Anheuser-Busch urges stockholders to reject InBev takeover
Washington
- US brewing giant Anheuser-Busch on Wednesday formally urged shareholders to reject the hostile takeover being sought by Belgian beverage conglomerate InBev.
In a formal statement to the US Securities and Exchange Commission, Anheuser-Busch, based in St Louis, Missouri, asked its investors to vote down InBev's attempt to replace the US brewer's board of directors. The move is an attempt by InBev to install friendly management that would accept the 46-billion-dollar takeover.
Both companies have already filed duelling lawsuits over the spurned overture.
InBev, which already owns a stable of international beer brands including Beck's and Stella Artois, would top Britain's SABMiller as the world's largest brewer if it can gain control of Anheuser-Busch, whose flagship brand is the US Budweiser line. Despite a long- stagnant stock price, Anheuser-Busch remains entrenched as the dominant US brewer, supplying about half of the domestic market. (dpa)
