Anheuser to reject InBev offer and restructure

PHILADELPHIA (Reuters) - Anheuser-Busch is expected to reject InBev NV's unsolicited $46.3 billion (23.45 billion pound) offer, saying it undervalues the company, and announce its own restructuring plan, the Wall Street Journal reported on Wednesday.

Anheuser-Busch could not be immediately reached for comment.

The U.S. brewer is expected to reject InBev's offer as too low. Anheuser-Busch will soon outline its own restructuring that would include the sale of nonessential assets such its theme parks in an effort to boost its stock price, the newspaper reported in its online edition.

The rejection will unlikely deter InBev, which is prepared to take its bid directly to Anheuser-Busch shareholders through a tender offer, the newspaper said. InBev has yet to decide whether to pursue such a course, however.

Anheuser-Busch has few takeover defences to thwart a hostile offer.

(Reporting by Martinne Geller in New York and Jessica Hall in Philadelphia, editing by Richard Chang)

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