BELGIUM: InBev stays quiet on closure of A-B deal

Belgian brewer InBev has refused to be drawn on reports it is close to sealing a deal with its takeover target Anheuser-Busch.

Despite the two brewers being at loggerheads since InBev launched its US$65 a share bid for the US brewer last month, The New York Times has reported that Anheuser-Busch Cos is now in active talks to sell itself to the Belgian company in a friendly deal.

When contacted by just-drinks, InBev refused to comment.

The New York Times cited one source saying that InBev had indicated it would be willing to pay more than the $65 a share it originally offered. A report from Wall Street Journal, meanwhile, cited sources close to the situation claiming that InBev will up its offer to $70 a share shortly, with A-B poised to accept the improved offer.

The New York Times also suggested that billionaire investor Warren Buffett was leaning towards backing a buy-out by InBev.Buffett has a 4.9% stake in Anheuser-Busch through his Berkshire Hathaway company.

Berkshire Hathaway is thought to be the brewer's second-largest shareholder behind the 5.7% held by Barclays Global Investors NA.

The two brewers have been at public loggerheads since InBev's original $65-a-share bid for Anheuser back in June.

Only last week, Anheuser-Busch readied a lawsuit against InBev, accusing the Belgium-based brewer of "deceptive conduct".

The US-based brewer filed the suit on Monday (7 July) at the US District Court in the Eastern District of Missouri. A-B has cited "an illegal plan and scheme by InBev, through a course of deceptive conduct, to acquire A-B at a bargain price".

The suit was in response to news that InBev was looking to file a preliminary consent solicitation statement with the Securities and Exchange Commission in the US. The filing seeks to remove each member of A-B's board of directors and "provide A-B shareholders an opportunity to have a direct voice in the proposed combination with InBev".