Anheuser-Busch InBev Shares Rise on Merger News

Anheuser-Busch InBev shares were on the rise Friday despite missing second quarter profit forecasts
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Anheuser-Busch InBev (BUD) - Get Report shares were on the rise Friday despite missing second quarter profit forecasts. Anheuser Busch reported quarterly net income of $152 million. Earnings came in at $1.06 a share, three cents below analysts' estimates. The brewer posted revenue of $10.81 billion, which was in-line with predictions. The company also reiterated its expectation of closing the SABMiller deal this year -- this comes as the London-based brewer's board approved the deal Friday morning, according to CNBC. AB InBev recently raised its offer to $104.21 billion. Bloomberg also reported Friday that China's Ministry of Commerce gave the 'Megabew' merger its last major regulatory approval after SABMiller agreed to sell its 49 percent stake in China's top-selling beer, Snow.