One Step Closer

InBev shareholders have approved, as expected, the brewer’s takeover of Anheuser-Busch. They also approved changing the company’s name to Anheuser-Busch InBev. The shareholders also approved the appointment of A-B chief executive August Busch IV as a director in the new company.

InBev’s chief executive Carlos Brito said the vote, taken at a meeting yesterday, “demonstrates the confidence our shareholders have in the strategic and financial benefits of the combination with Anheuser-Busch”.

Brito said the group continued to expect the $52 billon deal to complete by the end of 2008.

The deal also requires approval by A-B shareholders, although it is unlikely there will be any realistic opposition to the takeover taking place on schedule. A-B shareholders are set to vote on the deal early next month