InBev has filed a preliminary consent solicitation statement to remove each member of the Anheuser-Busch board to give shareholders an opportunity to have a direct say on its offer for the company. The move follows Anhesuer-Busch's rejection of InBev's $46bn unsolicited bid for the US brewer. The bid represented a 35% premium on current share prices and an 18% premium on its all-time high. Carlos Brito, chief executive officer of InBev, said: “Our strong preference remains to enter into a constructive dialogue with Anheuser-Busch to achieve a friendly combination that comprehensively addresses the interests of all constituents. "We believe our firm offer of $65 per share reflects the full and fair value of Anheuser-Busch and is a compelling proposal for shareholders. The proposal is backed by fully committed financing and provides immediate certainty of value in a weakened stock market environment." He added: "In comparison, the Anheuser-Busch newly formulated plan entails significant execution risks and does little to address the fundamental competitive challenges the company aces in an increasingly global industry, wherein a competitive brand portfolio, a worldwide distribution network and economies of scale are key drivers of success. "Our proposal seeks to deliver immediate value to Anheuser-Busch shareholders, while building a stronger, more competitive company to the benefit of all constituents, including consumers, employees, wholesalers, business partners and the communities we serve.”

Topics