InBev buys Anheuser-Busch
On Monday, two brewing giants came together to form the "world's leading global brewer". Belgian brewer InBev and US based beer-maker Anheuser-Busch said they would be merging to create a new entity known as Anheuser-Busch InBev.
Yahoo seeks to restart talks with AOLUnder the deal Anheuser-Busch shareholders will receive $70 per share in cash for an aggregate equity value of $52 billion. Anheuser-Busch will become a fully owned subsidiary of InBev.
The deal was agreed unanimously by the boards of both companies and inBev said it was fully committed to financing the purchase of all Anheuser-Busch's outstanding shares.
Together the companies said they would become the "global leader in beer with Budweiser as its flagship brand". On a pro-forma basis the new combined company said it would have generated revenue of $36.4 billion in 2007.
In a statement the companies said, "Anheuser-Busch and InBev together believe that this transaction is in the best interests of both companies' shareholders, consumers, employees, wholesalers, business partners and the communities they serve."
The new company expects to get around 40 per cent of its revenue from the North American region.
Carlos Brito, CEO of InBev is to become the chief executive of the combined company. The rest of the board is to be comprised of existing directors of the InBev board, August Busch IV, the President and CEO of Anheuser-Busch and one other current or former director from the Anheuser-Busch Board.
Brito said, "We are very pleased to announce this historic transaction today, bringing together two great companies that share a rich history of brewing traditions This combination will create a stronger, more competitive global company with an unrivalled worldwide brand portfolio and distribution network, with great potential for growth all over the world."
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