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November 23, 2008 2:58:34 AM CST

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InBev Boosts Bid for Bud, Making Buyout Likely

Posted Jul 11, 08 10:55 AM CDT in Business 

(Newser) – InBev has increased its bid for Anheuser-Busch to $70 a share, the Wall Street Journal reports. Although willing to replace the Budweiser-brewer’s board in a hostile takeover, the $5-per-share boost—bringing the total deal to $50 billion—is a signal that InBev would prefer to keep things friendly. Anheuser will probably accept the new offer, sources told the Journal.

Anheuser had rejected InBev’s $65-per-share offer as “substantially undervaluing” the firm. But the brewer has reason to take a friendly buyout: it would mean InBev could keep top Busch execs in place. The merged company would be the world’s largest brewer, with about 300 beer brands across six continents.

Source Wall Street Journal

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In this Oct. 25, 2005 file photo, bottled and draught Budweiser beers are shown at Foley's Bar in St. Louis.   (AP Photo/Tom Gannam, file)
A display along one of the buildings in the Anheuser-Busch brewery complex shows clydesdale pulling a hitch of Budweiser products Wednesday, June 11, 2008 in St. Louis, Mo.   (AP Photo)
Inbev CEO Carlos Brito addresses the media after the annual Inbev shareholders meeting in an hotel in Brussels, Tuesday, April 29, 2008.   (AP Photo)
In this June 12, 2008 file photo, crates of Beck's beer are seen on the grounds of the InBEV brewery in Bremen, northern Germany.   (AP Photo/Joerg Sarbach, file)
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mergers and acquisitions • beer • buyout • Anheuser-Busch • Budweiser • InBev • brewery


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