Anheuser, InBev move closer to deal

Mon Jul 14, 2008 1:23am BST
 
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By Jessica Hall and Martinne Geller

PHILADELPHIA/NEW YORK (Reuters) - U.S. brewer Anheuser-Busch Cos Inc (BUD.N) moved closer to a friendly, $50 billion (25 billion pounds) takeover by Belgium-based InBev NV INTB.BR, sources familiar with the situation said on Sunday.

An announcement could be made as early as Sunday night for a deal that would create the world's largest beer maker, said the sources, who spoke on condition of anonymity.

One source said Anheuser's board was expected to hold a final vote on Sunday on the takeover of the company, which traces its origins to the Bavarian Brewery in St. Louis, Missouri, which Eberhard Anheuser bought in 1860.

The board is meeting at the Spirit of St. Louis airport in suburban Chesterfield, according to a report on KMOX Radio in St. Louis.

InBev's board was also scheduled to hold a separate meeting on Sunday, one source said.

The timing of the announcement could change if there are any last minute snags, but the major issues regarding the price, board structure, and executive roles had largely been resolved, the sources said.

InBev, the maker of Stella Artois, and Budweiser-brewer Anheuser declined to comment.

A deal would bring an amicable resolution to a month-long saga that was becoming increasingly hostile as the two companies sued each other and InBev set the stage to try to replace Anheuser's board of directors.  Continued...

 
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