The 2008 Anheuser-Busch Inbev Deal: Successful M&A, Divestment and Financing Strategies in Harsh

Abstract

In June 2008, Inbev made an unsolicited $50 billion offer to acquire Anheuser-Busch (AB). The offer was rejected by AB's board. Inbev's plans were driven by a general trend of industry consolidation, the declining beer consumption in traditional markets, and the superb geographic fit between both firms. AB fought back and announced its restructuring plans. Law suits were initiated and political issues surfaced as well. Inbev decided to raise its bid and could eventually acquire the target. The acquisition of US' most important beer producer by Belgian-Brazilian Inbev offers a comprehensive picture and excellent description of the numerous facets, challenges and issues mergers and acquisitions (M&A) bring along.