AB asks shareholders to reject InBev proposal
Wednesday, July 9, 2008
ST. LOUIS (AP) — Anheuser-Busch Cos. Inc. is asking its shareholders to reject a proposal from Belgian brewer InBev to replace Anheuser-Busch’s board of directors.
On Wednesday, Anheuser-Busch filed a consent solicitation with the Securities and Exchange Commission that outlines why shareholders should reject InBev’s proposal.
The filing says Anheuser-Busch should keep its current board because it will represent the interests of shareholders more than a board that is hand-picked by InBev.
The Belgian brewer made an unsolicited offer to buy Anheuser-Busch for $46 billion. The company’s board has rejected the bid, saying it is too low.
InBev asked shareholders this week to fire all 13 of Anheuser-Busch’s directors and replace them with a slate chosen by InBev.