Shareholders of InBev, the European beermaker that has acquired US beer giant Anheuser-Busch (InBev acquires Anheuser-Busch for $52 billion; Budweiser to be flagship brand) , have approved change in the the name change of the company to Anheuser-Busch InBev.
They have also approved the appointment of Anheuser-Busch president and CEO August A. Busch IV as a director of the combined company. Both decisions will be effective upon closing of the transaction.
InBev shareholders voted to approve the acquisition of all the shares of Anheuser-Busch Companies, Inc. for $70 per share at the company's extraordinary general meeting held today.
Carlos Brito, chief executive officer of InBev, said, "This vote demonstrates the confidence our shareholders have in the strategic and financial benefits of the combination with Anheuser-Busch. We are very pleased to complete this important milestone and we remain on track to close the transaction by the end of the year."
Finally, the shareholders also authorised the board to proceed with the capital increase required to finance $9.8-billion acquisition.
The transaction remains subject to approval by Anheuser-Busch shareholders and regulatory clearance in a number of jurisdictions. InBev continues to expect that it will complete the transaction by the end of 2008.
In light of the limited overlap between the InBev and Anheuser-Busch businesses, the company does not anticipate any significant regulatory issues. Anheuser-Busch has set a record date of 3rd October for its shareholders' meeting and expects to set the date of such shareholders' meeting in the near future.