InBev seeks to acquire Anheuser-Busch for $65 per share

By Lisa Kerner

Charlotte, N.C., June 11 - Anheuser-Busch Cos. Inc. said its board of directors will evaluate an unsolicited, non-binding proposal from InBev NV to acquire the company for $65 per share in cash.

The board expects to make a determination regarding the proposal "in due course," an Anheuser-Busch news release said.

InBev said in a statement that its per-share offer price is a 35% premium over Anheuser-Busch's 30-day average share price prior to recent market speculation.

As part of its proposal, InBev plans to make St. Louis the headquarters for the North American region and the global home of the flagship Budweiser brand.

Some Anheuser-Busch directors would be asked to join the board of the combined company and InBev would maintain all of Anheuser-Busch's U.S. breweries.

An InBev statement noted that the combined company, on a pro forma basis for 2007, would generate net sales of $36.4 billion, and EBITDA of $10.7 billion.

"We view this combination as a natural next step for both companies, who already enjoy successful partnerships in the U.S., Canada and South Korea," InBev chief executive officer Carlos Brito stated.

InBev has retained Lazard as lead financial advisor and JPMorgan as financial advisor.

Anheuser-Busch is a St. Louis-based brewing company.

InBev is a brewing company located in Leuven, Belgium.

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