InBev Wants to Oust Anheuser-Busch Board - TheStreet



filed documents with U.S. regulators indicating that it plans to try to remove the board of


(BUD) - Get Report

, the St. Louis-based Budweiser maker that it wants to acquire.

InBev said in a

Securities and Exchange Commission

filing that because Anheuser-Busch has stalled its $46 billion takeover attempt, it will seek to have the current directors replaced with board members who will be friendlier to its cause.

One member of the Busch family is on InBev's proposed slate, Adolphus A. Busch IV. Busch is the founder and chairman of the Great Rivers Habitat Alliance, a conservation group. He is the great-grandson of the founder of Anheuser-Busch and the uncle of August A. Busch IV, the company's current president and CEO.

Carlos Brito, InBev's chief, said in a statement that his company's "strong preference remains to enter into a constructive dialogue with Anheuser-Busch to achieve a friendly combination that comprehensively addresses the interests of all constituents. We believe our firm offer of $65 per share reflects the full and fair value of Anheuser-Busch and is a compelling proposal for shareholders."

This article was written by a staff member of