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NEW YORK - Andrew D. Busch, a non-employee member of Anheuser-Busch founding Busch family, says he supports the US brewer's efforts to remain "a strong company headquartered in St Louis".
Busch, an uncle of chief executive August A. Busch IV, said at the weekend that he supported his nephew, the board of directors and the management team of Anheuser-Busch as they evaluate and respond to the $46.3 billion takeover bid by Belgian-Brazilian brewer InBev.
"I believe that Anheuser-Busch has created substantial shareholder value over the long term and that it will continue to maintain the best interests of the shareholders and employees," Busch said.
Andrew Busch has "substantial" shareholdings in the maker of Budweiser and Michelob, according to a spokesman who declined to provide more details, including whether Busch supported rejecting the bid.
Busch added that he did not speak for other family members.
The company issued a statement late on Friday saying that it would continue to review and consider the proposal.
The management and the Busch family are widely believed to want to remain independent, though the clan's stake is now roughly 4 per cent, not enough to veto a deal.
Yet Adolphus A. Busch IV, another uncle of the CEO, has thrown his support behind InBev, whose beers include Stella Artois, Beck's and Bass.
- REUTERS
