E-Malt.com News article: United States: Anheuser-Busch to pay $2.5 million in legal fees to settle shareholders’ lawsuits

Anheuser-Busch Cos. agreed to pay $2.5 million in legal fees to settle lawsuits filed by shareholders seeking more money in a planned takeover by Belgian brewer InBev NV, Bloomberg reported on October, 23.

InBev said in June it would buy Anheuser-Busch for $65 a share or about $46 billion. After resistance from the St. Louis-based brewer, InBev in July raised the offer to $70 a share, or about $52 billion, spurring A-B to agree to the sweetened offer.

The brewer’s shareholders filed 11 lawsuits in Delaware Chancery Court challenging the initial offer. In court papers filed on October, 22, lawyers for the company and shareholders agreed "the settlement is in the best interests of the parties."

The settlement, which requires a judge's approval, includes A-B paying the fee to shareholders' lawyers, according to court papers.

Anheuser-Busch shareholders will meet on Nov. 12 to vote on the proposed deal. InBev expects investors to approve the deal, which should close by the end of the year.


24 October, 2008