BELGIUM: InBev shareholders back Anheuser-Busch buyout

By | 29 September 2008

InBev shareholders have voted to approve the brewer's US$52bn takeover of US beer giant Anheuser-Busch.

Shareholders voted "overwhelmingly" in favour of the deal at an extraodrinary general meeting this morning (29 September), InBev said.

The deal, which values Anheuser-Busch (A-B) at $0.70 per share, is the largest ever proposed in the brewing sector.

Inbev shareholders also approved the name Anheuser-Busch InBev as the new brewing giant's title. A-B CEO August Busch IV was also cleared to become a director of the new company.

Busch was in-line to receive a lump sum of $10.3m, as well as a fee of around $120,000 per month until the end of 2013, according to a stock market filing by A-B in August.

InBev re-iterated today that it expected to complete the takeover by the end of the year. It said last week that financial market turmoil had not jeopardised its financing of the deal.

A-B will hold its own shareholder vote on 3 October.

Sectors: Beer & cider

Companies: InBev, Anheuser-Busch

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