InBev begins hostile takeover of Anheuser-Busch
Thursday, June 26, 2008
ST. LOUIS (AP) -- Belgian Brewer InBev is taking what could be the first steps toward a hostile takeover of Anheuser-Busch Cos.
InBev announced Thursday it has filed a lawsuit in Delaware Chancery Court, where Anheuser-Busch is officially chartered as a corporation.
The lawsuit seeks a judgment to confirm that Anheuser-Busch shareholders can remove without cause the company's board of directors.
The biggest brewer in the United States has not officially responded to InBev's offer. Anheuser-Busch did not immediately return a message seeking comment.
InBev's move comes after media reports Wednesday that Anheuser-Busch's board is preparing to reject InBev's unsolicited offer to buy Anheuser-Busch for $65 a share, or roughly $46 billion.