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Anheuser-Busch may reject offer, report says

June 26, 2008|From Times Wire Services

Anheuser-Busch Cos., the biggest U.S. brewer, may be preparing to reject InBev's $46.3-billion takeover offer and announce plans to lower costs and sell off divisions.

The St. Louis maker of Budweiser beer may say soon that the Belgium firm's $65-a-share bid is inadequate, the Wall Street Journal reported, citing unidentified people familiar with the matter.

The company may also say it plans to eliminate $1 billion in costs over four years, pay a special dividend and study the possible sale of its theme-park division.

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