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InBev shareholders approve buyout offer of Anheuser-Busch

Busch Entertainment and Budweiser are all a step closer to becoming properties of InBev but there's still no certainty that the Belgian brewing giant wants anything other than the beer.

InBev announced this morning that its shareholders voted to approve the acquisition of all the shares of St. Louis-based Anheuser-Busch Companies, Inc. for $70 per share, at the company’s extraordinary general meeting. InBev reported that shareholders voted overwhelmingly in favor of the combination.

Shareholders also approved the name change of InBev to Anheuser-Busch InBev and the appointment of Anheuser-Busch president August A. Busch IV as a director of the company, both effective upon closing of the transaction.

Finally, the shareholders also authorized the InBev board to proceed with the capital increase required to finance $9.8 billion of the estimated $52 billion transaction.

That's the action that leaves the future of Busch Entertainment Corp. and its theme parks, including SeaWorld, Aquatica, Discovery Cove and Busch Gardens-Tampa Bay, in question. InBev has said, without specifics, that to raise capital it may divest its non-core businesses -- widely assumed to include the theme parks. Busch Entertainment just moved its headquarters to Orlando, from St. Louis, this summer.

The InBev purchase of Anheuser-Busch remains subject to approval by Anheuser-Busch shareholders and regulatory clearance in a number of jurisdictions. InBev stated that it continues to expect that it will complete the transaction by the end of 2008.

written on 30.09.2008 um 06:54.

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