Anheuser-Busch Issues New Letter to InBev

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Anheuser-Busch Issues New Letter to InBev

06/18/2008
NEW YORK -- In the latest installment of a possible merger that has analysts, politicians and industry experts buzzing, Anheuser-Busch Cos. Inc. (A-B) issued a letter to Belgian brewer InBev, in response to the European's letter from earlier this week, which told the company to halt its rumored acquisition discussions with Mexican brewer Grupo Modelo, Reuters reported.

A-B, the subject of a $46.3 billion potential merger bid from InBev, refused to comment earlier this week on reports that it was pursuing a side deal with Modelo, according to the report.

"It is Anheuser-Busch's policy not to confirm, deny, comment on or speculate on rumors," A-B Chief Executive August Busch IV wrote in a response to InBev Chief Executive Carlos Brito.

The letter continued, stating that A-B's board of directors is "evaluating your proposal carefully and in the context of all relevant factors, including Anheuser-Busch's long-term strategic plan."

InBev's bid, of $65 a share, would create the world's largest brewer by sales, according to the report.