Budweiser brewer Anhueser-Busch has finally agreed to a $52 billion takeover by InBev. The board of the fSt Louis-based brewer relented after an improved offer of $70 per share from the Belgian giant. The new operation – Anheuser-Busch Inbev – will be one of the world's five largest consumer goods companies. The combination of Anheuser-Busch and InBev – on a pro-forma basis for 2007 – would have generated global volumes of 460 million hectoliters, revenues of $36.4 billion and EBITDA of $10.7 billion. InBev's CEO Carlos Britto will be chief executive of the new company – and the headquarters of Budweiser in St Louis, Missouri, will stay as the new base for the company's North American operation. Plus, all US breweries are to stay open under the newly announced deal/ Carlos Brito, CEO of InBev, said, “We are very pleased to announce this historic transaction today, bringing together two great companies that share a rich history of brewing traditions. “We are extremely excited about the opportunities that this combination will create for consumers worldwide, as well as our shareholders, employees, business partners and wholesalers. “Together, Anheuser-Busch and InBev will be able to accomplish much more than each can on its own. We have been successful business partners for quite some time, and this is the natural next step for us in an increasingly competitive global environment. “This combination will create a stronger, more competitive global company with an unrivaled worldwide brand portfolio and distribution network, with great potential for growth all over the world.” August Busch IV, Anheuser-Busch President and CEO, added, “Today’s announcement brings new opportunities for Anheuser-Busch and its business, brands and employees. “This agreement provides additional and certain value for Anheuser-Busch shareholders, while enhancing global market access for Budweiser, one of America’s true iconic brands. “We will leverage our collective strengths to create a truly diversified, global company to sustain long-term growth and profitability. In the United States and Canada, both InBev and Anheuser-Busch have seen significant benefits from our existing relationship and we look forward to replicating this success in other parts of the world.” The transaction is subject to the approval of InBev and Anheuser-Busch shareholders. The transaction will be financed with $45 billion in debt, including a $7 billion bridge financing for divestitures of non-core assets from both companies. In addition, InBev has received commitments for up to $9.8 billion in equity bridge financing which will allow the company flexibility in deciding upon the timing and form of equity financing for a period of up to six months after closing.