InBev files suit to let Anheuser holders ax board

Thu Jun 26, 2008 8:21pm BST
 
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NEW YORK (Reuters) - InBev NV INTB.BR said on Thursday it filed a lawsuit to confirm that Anheuser-Busch Cos Inc (BUD.N) shareholders can remove without cause all 13 board members.

At the same time, the Belgian-Brazilian maker of Stella Artois and Beck's, which has launched at $46.3 billion takeover for the Budweiser maker, also said its "strong preference" is to enter into a constructive dialogue with the U.S. brewer's board to achieve "a friendly combination."

InBev said that under Anheuser's charter and as a matter of Delaware law, it is clear that eight directors elected after 2006 are subject to removal without cause by shareholders acting by written consent.

The suit, filed in Delaware Chancery Court, seeks to confirm that the remaining directors, who were elected in 2006, are also now subject to removal through the same mechanism, InBev said.

An Anheuser-Busch spokeswoman was not immediately available for comment.

(Reporting by Martinne Geller, editing by Mark Porter and Phil Berlowitz)

 

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