InBev and Anheuser-Busch agree to merge
InBev and Anheuser-Busch agree to merge
InBev and Anheuser-Busch agree to merge
InBev and Anheuser-Buschsaid they agreed to combine the two companies, forming the world's leading global brewer.
Anheuser-Busch shareholders will receive $70 per share in cash, for an aggregate equity value of $52 billion. The combined company will be called Anheuser-Busch InBev. Both companies' boards of directors have unanimously approved the transaction.
InBev has fully committed financing for the purchase of all of Anheuser-Busch's outstanding shares and the companies said they see cost synergies of at least $1.5 billion by 2011, phased in equally over three years.
The transaction is expected to be neutral to normalised in terms of earnings per-share in 2009 and accretive beginning in 2010, and return on invested capital will exceed weighted average cost of capital during the second year after close.
InBev CEO Carlos Brito will be chief executive officer of the combined company, while the rest of the board will comprise the existing InBev board, current Anheuser-Busch president and CEO August Busch IV, and one current or former director from Anheuser-Busch's board.
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