By Matt Andrejczak, MarketWatch
Nov 12, 2008
SAN FRANCISCO (MarketWatch) -- Anheuser-Busch Cos. said Wednesday a majority of its shareholders voted to approve its proposed combination with rival beer giant InBev NV.
When the deal closes, Anheuser-Busch shareholders will get $70 in cash for each share of Anheuser-Busch stock they own.
The deal, which creates the world's largest beer company, is valued at $52 billion. The new company will be called Anheuser-Busch InBev.
A closing date has not been set, but the companies expect the merger to be done before the end of the year. InBev shareholders had approved the merger on Sept. 29
St. Louis-based Anheuser-Busch (BUD) and Belgian-based InBev together operate 300 brands, including Anheuser's Budweiser and Bud Light and InBev's Stella Artois and Beck's.
The board at Anheuser-Busch resisted initial advances from InBev before agreeing to a sweetened buyout offer in July. The deal upset people in St. Louis, where Anheuser-Busch is one of the region's key employers, taxpayers and charitable givers.
"Under the merger, the new company will expand Budweiser into new markets around the world, fulfilling the global ambitions my family has long dreamed about for this great American brand," Anheuser-Busch President and Chief Executive August A. Busch IV said in a statement. He will be a director at the combined company.
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3 comments:
It is really final. So, how about a Sam Adams or Fat tire, anyone?
Great, so now Anheuser-Busch shares will be worth $70.80. I hope Toyota buys GM next.
Now that, on the other hand, would be something to toast in celebration to. In reality, there must be some way for the Detroit 3 to not go under and officially declare us a consumer nation in perpetuity.
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