- Nov 27, 1999
- 64,971
- 387
- 126
NEW YORK (Reuters) - InBev NV has offered to buy Anheuser-Busch Cos Inc for $46.3 billion, as it seeks to create the world's largest brewer with the biggest ever takeover of an alcoholic drinks company.
InBev, whose brands include Stella Artois and Beck's, said on Wednesday it is offering $65 per share for Anheuser, which dominates the U.S. beer market with a 48.5 percent share.
The offer represents a 24 percent premium to Anheuser's share price on May 22 -- the day before reports of merger talks surfaced and drove Anheuser's shares higher.
The maker of Budweiser and Michelob, which counts Warren Buffett's Berkshire Hathaway Inc as its second-largest shareholder with a 5 percent stake, saw its shares jump more than 7 percent to $62.73 after-hours on Wednesday, after closing at $58.35 on the New York Stock Exchange.
St. Louis-based Anheuser said its board of directors "will evaluate the proposal carefully and in the context of all relevant factors, including Anheuser-Busch's long-term strategic plan," and make a determination regarding the proposal "in due course."
The two brewers already have a deal whereby Anheuser distributes InBev beers in the United States.
Industry experts see InBev's offer as the opening step in what is likely to become a series of negotiations that could drive the final deal price close to or above $70 per share.
For most of the last century and a half, Anheuser-Busch has been led by members of the Busch family, who for the most part are believed to be against a takeover.[/b]
Anheuser gets $46.3 billion takeover bid from InBev.
What will happen to the Clydesdale's?