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Categories: Mergers and Acquisitions

InBev Close to Deal on Anheuser-Busch - NYT

Source: Reuters
11/07/2008

July 11 - U.S. brewer Anheuser-Busch Cos Inc is in active talks to sell itself to Belgian brewer InBev NV in a friendly deal, the New York Times said on its website, citing people briefed on the matter.

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One source told the paper that InBev had indicated it would be willing to pay more than the $65 a share it had originally offered.

However, people briefed on the deal cautioned that the talks might still break down, the paper said.

Helping to drive the deal talks was the indication that some of Anheuser's largest shareholders, including billionaire investor Warren Buffett, were leaning toward backing a deal with InBev, the paper said.

Since InBev made its original $46.3 billion, $65-a-share bid for Anheuser in June, the two sides have been publicly at loggerheads.

Both companies have approached the courts, with the Belgian brewer looking to oust Anheuser's board, while the American firm has called InBev's takeover attempt an "illegal plan and scheme" to acquire it "at a bargain price", and has criticised InBev for having operations in Cuba.

Anheuser-Busch and InBev could not be immediately reached for comment.



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