USA: Analysts comment that Anheuser-Busch and InBev deal likely

A Stifel Nicolaus & Co. analyst said on June 26 that any new Anheuser-Busch Cos. Inc. management plan will likely only reinforce the appeal of a takeover bid by Belgium brew InBev S.A., Associated Press commented on June 26.

InBev has offered to buy the brewer of Budweiser and Bud Light for $65 a share, or about $46 billion. According to media reports, Anheuser-Busch's board plans to reject the offer and instead present its own plan for boosting shareholder value.

Analyst Mark Swartzberg said in a note to investors that the board's plan could surprise investors and "be deemed a near-$65 equivalent." But he said it's more likely that the plan "will simply reinforce the appeal of InBev's all-cash $65 offer." He added that he believes Anheuser-Busch shareholders will ultimately choose InBev's offer over Anheuser-Busch's plans.

InBev took steps Thursday to pursue the takeover over the board's objections. InBev said it filed a lawsuit in a Delaware court seeking a judgment to confirm that Anheuser-Busch's shareholders can remove the company's board members without cause.

Anheuser-Busch did not immediately return calls seeking comment.

Shares rose 1 cent to $61.77 in afternoon trading.

27 June, 2008