Anheuser-Busch Shares Frothy on Bid News

Updated from 5:08 p.m. EDT

Shares of Anheuser-Busch(BUD Quote) foamed up after hours when the brewer of Budweiser said it would evaluate an unsolicited $65-a-share offer from InBev.

Anheuser-Busch was up $4.67, or 8%, to $63.02 in after-hours trading. Shares closed up $1.20 to $58.35 in regular NYSE trading.

News of the Belgian brewing giant's $46 billion offer first surfaced last month. InBev was reportedly in talks with JPMorgan Chase and Santander on $50 billion in financing for the deal.

InBev, the world's largest brewer in terms of sales, sells such labels as Beck's, Bass, Stella Artois, Boddington's and St. Pauli Girl. InBev was created when the Belgian Interbrew and Brazilian AmBev merged in 2004.

Anheuser-Busch said in a short statement that its board of directors will evaluate the offer carefully. The board will "review the merits of the proposal consistent with its fiduciary duties and in consultation with its financial and legal advisers."

Once that's done, the company said it will "pursue the course of action that is in the best interests of Anheuser-Busch's stockholders." Anheuser-Busch didn't give a specific timetable for reaching a decision, but it said the board would make a determination regarding the InBev bid "in due course."

The beer space has seen its fair share of consolidation in recent years, including the deal that created InBev. Molson Coors(TAP Quote), the product of a combination of Molson and Coors, was formed in 2005.

Shares of Molson Coors were ticking up 2 cents in late trading to $56.64. Altria(MO Quote), which owns a sizable stake in SABMiller, was adding 3 cents to $20.75.