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Belgium's InBev SA on Tuesday indicated its willingness to go hostile
with its $46.3 billion share offer for Anheuser-Busch Cos. while
insisting that it prefers a friendly combination.
"Our firm proposal of $65 per share reflects the full and fair value of the company," Carlos Brito, the Brazilian chief executive of the Leuven-based suitor, said in a statement. He reiterated that the offer, which Anheuser-Busch has rejected, is backed by fully committed financing and provides "immediate certainty" in a weakened stock market environment.
The St. Louis-based maker of Budweiser and Bud Light rebuffed the unsolicited offer last week after its board unanimously dismissed it as being too low. The brewer also unveiled an aggressive $1 billion cost-cutting plan to appease shareholders by trimming 10% of its work force through attrition and early retirement, alongside other measures. It is now up to the Belgian brewer to decide whether to launch an offer immediately or seek talks with directors. Last week InBev set the stage for a hostile takeover by seeking the removal of Anheuser-Busch's directors without cause. Carlos Fernandez, the president and CEO of Mexican brewer Grupo Modelo SAB de CV, announced his departure from Anheuser's board on June 20, prompting speculation that a deal between Anheuser and Modelo is in the works. - Renee Cordes See full story on TheDeal.com See related: Will InBev go hostile? See related: Anheuser-Busch announces restructuring to up the ante? Categories Deal Video
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