InBev NV, the Belgian brewer trying to take over Anheuser-Busch Cos., said it will seek to oust the U.S. company's board after getting no response to its $46.3 billion bid for two weeks.
InBev plans to ask shareholders to approve new directors for the maker of Budweiser beer, according to a filing today with a court in Wilmington, Delaware. The Leuven, Belgium-based company said in the filing that investors may need to fire the existing board because of St. Louis-based Anheuser-Busch's ``apparent plans to attempt to block the acquisition proposal.''
Before InBev's June 11 proposal, Anheuser-Busch Chief Executive Officer August A. Busch IV told the Belgian brewer that his company wasn't for sale and that ``he and his board are 'committed' to remain independent,''' InBev said in the filing. The brewer may reject the $65-a-share proposal this week, the Wall Street Journal reported yesterday.
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