InBev Brews Plan to Oust Anheuser-Busch Directors

Company turns to shareholders in merger
By Jim O'Neill,  Newser User
Posted Jul 7, 2008 8:15 AM CDT
Flags fly near the Budweiser sign on the complex of St. Louis based Anheuser-Busch Cos.    (AP Photo/James A. Finley)
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(Newser) – InBev is turning up the heat in its $46.35-billion attempt to take over St. Louis-based Anheuser-Busch, seeking to replace the company's board with a new slate of directors. The move aims to allow shareholders a direct say on the merger bid that was spurned last month, reports the Wall Street Journal. The Belgian-Brazilian brewer offered stockholders $65 a share, a 35% premium.

InBev—the world’s second-largest brewer and maker of Stella Artois, Labatt Blue, and Beck’s, among other brands—is meeting stiff opposition from Missouri’s politicians, unions, and members of the Busch family, who still run, but don’t have a controlling share of the company. Anheuser-Busch controls more than 50% of the US beer market and is the third-largest brewer in the world.