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U.S. markets recover from steep losses
ST. LOUIS, May 24 (UPI) -- InBev, the Belgian maker of Beck's and Stella Artois, is considering a takeover bid for the U.S. company Anheuser-Busch.
A successful takeover would combine the second- and third-largest beer companies in the world, The Wall Street Journal reported. It would create a giant with more than 300 brands on every continent.
The Daily Telegraph, citing sources, said InBev planned to offer $65 per share and had secured financing from JP Morgan and Santander. Anheuser-Busch's stock price jumped 7.66 percent to $56.61 Friday.
InBev, despite its size, has only a tiny share of the U.S. market, the world's biggest. The two best-selling brands in the world are Anheuser's Bud Light and Budweiser.
Anheuser was founded 150 years ago by Adolphus Busch. His great-great-grandson, August Busch IV, reportedly has pledged the company would not be taken over while he is at the helm, the Journal said. His father has said the same thing.
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