Inbev goes hostile to net Anheuser

08 July, 2008

Inbev has upped the stakes in its attempt to buy Anheuser-Busch by proposing the removal of the entire board of the US brewer.

The move puts pressure on Anheuser to agree a sale or face the possibility of a revolt by shareholders to side with Inbev.

That could lead to an Inbev-proposed board – including Adolphus Busch IV, uncle of Anheuser chief executive Augusut Busch IV – being voted in to push through the deal.

Inbev said it would seek clearance for its plan from the US Securities & Exchange Commission, marking an increase in hostility levels for its proposed $46bn takeover of the Budweiser brewer.

Inbev chief executive Carlos Brito said: “Our 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.”

A statement from Anheuser-Busch headquarters in St Louis described Inbev’s proposals to remove the board as “a self-serving effort to try to purchase a price determined to be financially inadequate”.

It added: “Anheuser-Busch shareholders should ask themselves whether the directors selected by Inbev would negotiate the best transaction for Anheuser-Busch shareholders.”

Bookmark this

Site Search


Richard Hemming MW: beware inverse snobbery

Few things can bring communal pleasure so intimately as wine. Apart from a hot tub, perhaps. Sport can trigger mass jubilation, film gives us shared empathy, but wine has a nigh-unique ability to bestow conviviality among us through a shared bottle – which makes it especially galling that we spend so much time divided over it.

Click for more »
Upcoming events


Is blended Scotch overshadowed by single malt in retailers?

  • Yes
  • No
  • Don't know