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A-B Shareholders to Vote on Sale of the Brewing Giant |
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Wednesday, 12 November 2008 |
SECAUCUS, N.J.: Shareholders of Anheuser-Busch Cos. Inc. will vote on the sale of the brewing giant to Belgian brewer InBev Wednesday afternoon.
Once the deal closes—which should happen by the end of the year—it will create the world's largest brewer.
The vote for shareholders of the St. Louis-based company will come at a meeting starting at noon in Secaucus, N.J., just outside of New York.
The maker of Bud Light and Budweiser announced in July it was accepting a buyout from InBev worth $52 billion, or $70 a share.
Shareholders of InBev, known for brands like Stella Artois and Beck's, have already approved the deal.
Anheuser-Busch has about half of the U.S. market, and InBev just a small fraction. InBev has said it plans to make top-selling Budweiser and Bud Light into worldwide icons like Coca-Cola and Pepsi.
Both sides say it is on track to close on time, by the end of the year.
InBev has said it will not reduce or change its $70-per-share offer, even though Anheuser-Busch's share price has dropped amid larger market turmoil.
Copyright 2008 Associated Press |
