In-Bev Shareholders Approve Anheuser-Busch Merger

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In-Bev Shareholders Approve Anheuser-Busch Merger

BRUSSELS – InBev shareholders voted overwhelmingly in favor of the combination of Anheuser-Busch Cos. Inc. for $70 per share at InBev’s extraordinary general meeting held last week, the company stated.

"This vote demonstrates the confidence our shareholders have in the strategic and financial benefits of the combination with Anheuser-Busch," Carlos Brito, CEO of InBev, said in a statement. "We are very pleased to complete this important milestone, and we remain on track to close the transaction by the end of the year."

Shareholders also approved the company’s name change to Anheuser-Busch InBev, and the appointment of August A. Busch IV as a director of the company, both effective upon closing of the transaction, according to the company. Finally, shareholders authorized the board to proceed with a capital increase required to finance $9.8 billion of the transaction.

The merger remains subject to approval by Anheuser-Busch shareholders and regulatory clearance, and the company expects to complete the transaction by the end of 2008.