Anheuser-Busch has agreed to sell itself to the Belgian brewer InBev for about $52 billion, the two companies confirmed Monday in a joint release, putting control of the nation’s largest beer maker and a fixture of American culture into a European rival’s hands.
A statement says the boards of both companies agree on the deal.
The all-cash deal, for $70 a share, will create the world’s largest brewer, uniting the maker of Budweiser and Michelob with the producer of Stella Artois, Bass and Brahma. Together, the two companies would have sales of more than $36 billion a year, surpassing the current No. 1 brewer, SABMiller of London.