InBev Holders OK Anheuser-Busch Purchase - TheStreet

Belgium's

InBev

said Monday shareholders voted to approve the acquisition of

Anheuser-Busch

(BUD) - Get Report

, the maker of Budweiser beer, for $70 a share.

Shareholders voted overwhelmingly in favor of the combination, InBev said in a statement.

The transaction remains subject to approval by Anheuser-Busch shareholders and other regulatory clearance. InBev continues to expect that it will complete the transaction by the end of 2008.

Shareholders also approved changing the combined company's name to Anheuser-Busch InBev and naming Anheuser CEO August Busch IV to the board.