US brewer Anheuser-Busch has accepted an improved 33 billion euro takeover bid from Belgium-based InBev. It is the biggest brewing industry deal ever and the third largest foreign takeover of a US company. InBev, combined with Anheuser-Busch, will retake the number one position in world brewing, ahead of SABMiller.
The agreement follows weekend meetings and former Anheuser Busch Executive, Bill Finney, praised his ex-colleagues for getting the price up to $70 a share: “Management board did a heck of a job negotiating. Sixty-five was a good number for them, but they played hard to get. They got an extra five dollars a share, which is three and a half billion dollars for Anheuser-Busch shareholders by playing the game. They played it well.”