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Anheuser approves InBev takeover Stella firm buys Budweiser brewer
(about 4 hours later)
The US brewer Anheuser-Busch has agreed to be taken over by Belgium-based InBev, in a move that will create the world's largest beer maker.The US brewer Anheuser-Busch has agreed to be taken over by Belgium-based InBev, in a move that will create the world's largest beer maker.
The $50bn (£25bn) takeover bid by InBev, which makes Stella Artois beer, was accepted by Anheuser's board.The $50bn (£25bn) takeover bid by InBev, which makes Stella Artois beer, was accepted by Anheuser's board.
The combined company will now be called Anheuser-Busch InBev.The combined company will now be called Anheuser-Busch InBev.
Anheuser makes Budweiser - seen as a traditional American beer - and some US politicians had expressed anger at the prospect of a foreign takeover. Anheuser makes Budweiser - the most popular beer in the US - and some US politicians had expressed anger at the prospect of a foreign takeover.
The company controls nearly half of the US market, while InBev is strong in Western European and Latin American markets. 'Unrivalled brands'
In a concession to political concerns about the deal, Budweiser's headquarters will remain in St Louis, Missouri while none of Anheuser's US breweries will be closed.
InBev is offering to pay $70 a share for Anheuser in a deal which must be approved by shareholders of both businesses.
The combined business will have annual sales of $36.4bn, equivalent to 460 million hectoliters of beer a year.
BRAND MENU Stella, Budweiser, Beck's, Hoegaarden, Leffe, Brahma, Staropramen, Michelob, Rolling Rock
It will bring a host of popular brands including Beck's, Hoegaarden and Staropramen - in addition to Budweiser and Stella - under one roof.
InBev, itself formed by a giant merger several years ago, described the deal as "historic".
"Together, Anheuser-Busch and InBev will be able to accomplish much more than each can on its own," said InBev boss Carlos Brito, who will become chief executive of the new firm.
"This combination will create a stronger, more competitive global company with an unrivalled worldwide brand portfolio and distribution network, with great potential for growth all over the world."
Anheuser boss August Busch said the transaction would "enhance global market access for Budweiser, one of America's truly iconic brands".
Anheuser currently controls nearly half of the US market, while InBev is strong in Western European and Latin American markets.
The beer market has been rapidly consolidating in the face of cost pressures and declining sales in many mature markets.
Scottish & Newcastle, the UK's largest brewer, was recently bought out by Heineken and Carlsberg.