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Out of the Gate: Anheuser-Busch climbs
Anheuser-Busch rises on reports that company is talking to InBev about tie-up
July 11, 2008: 09:58 AM EST

NEW YORK (Associated Press) - Shares of Anheuser-Busch, which makes Budweiser and Bud Light, rose on Friday morning, following reports that its board will agree to a higher buyout offer from Belgian-based brewer InBev.

Shares gained $4.60, or 7.5 percent, to $65.80.

InBev reportedly raised its takeover offer for St. Louis-based Anheuser-Busch by $5 to $70, according to The Wall Street Journal, which also said the company is likely to accept the offer over the weekend.

The companies did not immediately respond to comment on the matter.

Wachovia Capital Markets analyst Jonathan P. Feeney said the news is a "huge step" toward a deal, but lingering risks still include regulatory approval, financing, and reaching a final agreement on pricing. Top of page
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