NEW YORK - Anheuser-Busch Cos. said yesterday it received a $46.3 billion takeover bid from Belgium's InBev in a move to further consolidate the global beer industry.
InBev, whose brands include Stella Artois and Beck's, is offering $65 per share, said the leading US brewer. The offer price is an 11.4 percent premium based on yesterday's closing price of $58.35.
Anheuser, which makes Budweiser and Michelob, said its board will evaluate the proposal carefully.
Wachovia analyst Jonathan Feeney said InBev's proposal was equal to 13 times annual earnings before interest, tax, depreciation, and amortization for the domestic and international beer business.
Feeney estimated that InBev, known for aggressive cost-cutting, could find about $1.2 billion a year in savings.
"InBev would focus its efforts on streamlining the US beer giant, a possibility which might not sit well with Anheuser distributors," Feeney said in a research note.
"On top of the distributor piece, the highly regulated nature of the beer industry could pose other deal difficulties," he said.
