facebook
twitter
rss
account
search
search
 

Report: Anheuser-Busch accepts InBev deal

July 13, 2008 at 9:27 PM   |   Comments

ST. LOUIS, July 13 (UPI) -- Anheuser-Busch Cos., based in St. Louis, agreed Sunday to be acquired by the Belgian firm InBev NV, The Wall Street Journal said.

The sale price is $49.91 billion, or $70 a share, the report said. The deal will result in the world's largest beer maker by turning over ownership of what the Journal called an iconic American company to InBev.

Plans call for the new entity to be known as Anheuser-Busch InBev.

The development comes two days after The St. Louis Post-Dispatch reported InBev increased its bid to $70 a share in friendly takeover talks that followed an aggressive bid.

The Financial Times said as the takeover bid took on a friendlier tone Friday, shares in Anheuser-Busch increased 7.5 percent to a record $65.91.

© 2008 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Most Popular
1
Continental Resources declares win in Oklahoma basin Continental Resources declares win in Oklahoma basin
2
Maker of Camel cigarettes bans smoking in workplace Maker of Camel cigarettes bans smoking in workplace
3
U.S. oil exports at highest level since 1957 U.S. oil exports at highest level since 1957
4
Brazil, Argentina to strenghten aerospace cooperation; talk Gripen deal Brazil, Argentina to strenghten aerospace cooperation; talk Gripen deal
5
Sandia National Labs develops zoom military rifle scope Sandia National Labs develops zoom military rifle scope
Trending News
Around the Web
x
Feedback