Anheuser Warns Against InBev Bid To Replace Board

Law360, New York (July 10, 2008, 12:00 AM EDT) -- Reluctant merger target Anheuser-Busch Co. Inc. has warned shareholders that replacing its directors with a board nominated by InBev would help the hostile suitor purchase the U.S. beer giant for a bargain-basement price.

Anheuser filed a statement with the U.S. Securities and Exchange Commission on Wednesday seeking the revocation of any consents signed by investors in response to InBev's solicitation to unseat the board.

The current 13-member board of the St Louis-based brewer rejected the Belgian beer maker's $65-per-share proposal last month, saying it significantly undervalued...
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