It seems that $70 a share was enough for Anheuser-Busch — the brewer agreed to sell itself to Belgian beer giant InBev over the weekend. The new company will be called Anheuser-Busch InBev, and its board will have room for two former A-B executives, including A-B CEO, August A. Busch IV.
The joint press release stated that the company’s headquarters will remain in St. Louis and that no A-B breweries will close as a result of the buy-out.
The NYT says:
The deal marked a sharp reversal for Anheuser, based since it was founded in St. Louis. When InBev announced its initial $46.3 billion offer last month, Anheuser mounted a fierce defense. It drew upon its heritage and its history as a major benefactor of its hometown, and argued that it could increase its profits alone.
A new offer of $52 billion changed their minds, however.
Oddly, this sale means that Rolling Rock, formerly owned by InBev and sold to A-B in 2006, will now be part of InBev again.