Anheuser-Busch accepts $52 billion InBev offer
The unsolicited bid by a Belgian-Brazilian brewing company has suceeding in acquiring the iconic American beer company Anheiser-Busch, putting the company in foreign hands for the first time in its history. The new company is going to be called Anheuser-Busch InBev.
The announcement comes after the American company had initially rejected an offer.
Anheuser-Busch Cos. agreed to be acquired for $70 a share, or $52 billion, by InBev, creating the world's largest beer maker and transferring ownership of the legendary U.S. company to the Belgian-Brazilian giant. The new company, to be called Anheuser-Busch InBev, would have had net sales of about $36.4 billion in 2007. Anheuser-Busch and InBev sell about 300 brands, including Anheuser's Budweiser and Bud Light and InBev's Stella Artois and Beck's.
Both boards have approved the terms and InBev has arranged financing for the deal, they said. St. Louis will remain BUD's headquarters city and will be North American headquarters for the new company, to be called Anheuser-Busch InBev, they said.