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Anheuser sues suitor InBev
Bill Condie09.07.08
Budweiser brewer Anheuser-Busch is suing Belgian rival InBev, asking a Delaware court to block the company's $46.3 billion (£23.4 billion) takeover bid, partly on the grounds that it has business in Cuba.
Anheuser says US law bars businesses in Cuba from being managed in the US. It also claims Stella Artois brewer InBev is trying to persuade shareholders to support the proposal with false or misleading information.
Anheuser-Busch last month rejected the $65-a-share bid as inadequate but so far has only come up with cost-cutting and the promise of increased profitability as a defence.
Anheuser said InBev made "numerous false and misleading statements" about the proposed $1 billion cost-cutting measures, its operations in Cuba and its financing for the acquisition.
InBev wants to replace Anheuser-Busch chief executive August Busch IV and other directors with a board that includes Adolphus Busch IV, the great-grandson of Anheuser's founder.
