Anheuser-Busch Shares Frothy on Bid News

The Budweiser seller acknowledges the Belgian brewing giant InBev makes a $65-a-share unsolicited offer for the company. The stock climbs in late trading.
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Updated from 5:08 p.m. EDT

Shares of

Anheuser-Busch

(BUD) - Get Report

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) - Get Report

, 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) - Get Report

, which owns a sizable stake in SABMiller, was adding 3 cents to $20.75.

This article was written by a staff member of TheStreet.com.