July 14, 2008 / 4:44 AM / 11 years ago

InBev confirms Anheuser-Busch deal for $50 billion

PHILADELPHIA/NEW YORK, July 13 (Reuters) - U.S. brewer Anheuser-Busch Cos Inc (BUD.N) agreed to be acquired by Belgium-based InBev NV INTB.BR for about $50 billion, the companies said on Sunday, creating the world’s largest beer maker.

The board of the combined company will include the existing directors of the InBev board, as well as Anheuser President and CEO August Busch IV and one other Anheuser representative. The management team from the combined company will include “key members” from both companies.

InBev, maker of Stella Artois and Beck's, plans to pay $70 per share for Anheuser, the No. 1 U.S. brewer. Based on Anheuser's 713 million shares outstanding as of March 31, the deal values the company at $50 billion. (Reporting by Jessica Hall and Martinne Geller; Editing by Anshuman Daga) (For more M&A news and our DealZone blog, go to here)

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