ANHEUSER-BUSCH BREWING CO. ANNOUNCED EARLY THIS MORNING that the Board of Directors had voted unanimously on Sunday to accept the buyout bid tendered by InBev, the Belgian brewing giant that had threatened a hostile take-over bid. (See Firegeezer May 25 report HERE)
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AP/Finley file photo
Under the terms of the buyout, A-B shareholders will receive $70 per share in cash, for an aggregate equity value of $52 billion. The combined company will be called Anheuser-Busch InBev. Carlos Brito, CEO of InBev, will be the chief executive officer of the combined company.
In a press release issued this morning jointly by the two brewers, it was announced that the new company will make St. Louis, Missouri the headquarters for the North American region and the global home of the Budweiser brand. They further said that all of A-B’s 12 American breweries would remain in operation. When the transaction is completed, Anheuser-Busch will become a wholly-owned subsidiary of InBev.
The St. Louis firm dates back to 1860 when Eberhard Anheuser acquired the Bavarian brewery and renamed it E. Anheuser & Co. His son-in-law, Adolphus Busch, joined the company in 1864 and it was eventually renamed Anheuser-Busch.
You can read the entire press release (in .pdf format) by clicking HERE.
The AP filed this video report:
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