Food and Beverage
Report: InBev Raises Offer for Anheuser
TSC Staff
07/11/08 - 12:01 PM EDT
InBev has an unquenchable thirst for BUD, and will raise its offer for Anheuser-Busch(BUD) to $70 a share, according to a published report Friday.
The Belgian brewing behemoth's initial $65-a-share, or $46.3 billion bid, was rejected by Anheuser two weeks ago. The St. Louis brewer of Budweiser said the original offer "undervalued" the company.
Dow Jones Newswires reported that the new offer, approximately $50 billion, would be accepted by Anheuser's board this weekend, citing sources.
The gentler news comes shortly after InBev, which brews Stella Artois and Beck's, among other labels, had threatened to send up its own slate of directors for Anheuser's board.
If the two companies raise a glass to the deal, they would former the world's largest brewer, supplanting SAB Miller.