Our Terms of Service and Privacy Policy have changed.

By continuing to use this site, you are agreeing to the new Privacy Policy and Terms of Service.

Anheuser talks merger with Grupo Modelo

American brewer enters talks with Mexican peer perhaps in attempt to stave off takeover by Belgian InBev, according to the Wall Street Journal.

EMAIL  |   PRINT  |   SHARE  |   RSS
google my aol my msn my yahoo! netvibes
Paste this link into your favorite RSS desktop reader
See all CNNMoney.com RSS FEEDS (close)

NEW YORK (CNNMoney.com) -- Anheuser-Busch has entered preliminary merger talks with Mexican brewery Grupo Modelo, according to a report from the Wall Street Journal Thursday.

A merger between the two companies could help the American brewing company hold off Belgian beer maker InBev's $46.3 billion unsolicited takeover bid that was announced Wednesday.

According to the Journal report, Anheuser-Bush approached Grupo Modelo about a deal in the past couple weeks, as rumors began to surface about a possible InBev offer. The $65-a-share bid came two weeks after the Financial Times reported InBev, brewer of Beck's, Bass and Stella Artois, was weighing a possible offer, driven in part by the strength of the euro against the dollar and the presence of a pro-merger administration in Washington.

The St. Louis-based Anheuser-Busch (BUD, Fortune 500) already owns about a 50% stake in the Mexican company, which makes Corona-brand beers.

Anheuser said Wednesday its board "will evaluate the proposal carefully and in the context of all relevant factors, including Anheuser-Busch's long-term strategic plan." The company said it expects the board to make a decision "in due course," though top members of the Busch family that have run the company for generations have said they don't want to sell.

Shares of Anheuser-Busch fell about 1% in after-hours trading. To top of page

They're hiring!These Fortune 100 employers have at least 350 openings each. What are they looking for in a new hire? More
If the Fortune 500 were a country...It would be the world's second-biggest economy. See how big companies' sales stack up against GDP over the past decade. More
Sponsored By:
Black Friday 2015 in pictures Shoppers around the country braved the crowds to get their hands on the best Black Friday deals. More
Driving the ultimate in '50s Mercedes-Benz style The SC was the car that re-introduced Mercedes-Benz as a global luxury car icon. More
Driving the world's first car Driving a replica of the 1886 Benz Patent Motorwagen, the first internal combustion automobile. More