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CHICAGO (MarketWatch) -- Anheuser-Busch Cos. has approved a $52 billion takeover bid by InBev in a deal that will create the world's largest beer maker and transfer ownership of the iconic American brewer to the Belgian-Brazilian giant.
The new company, to be called Anheuser-Busch InBev, would have had net sales of about $36.4 billion in 2007. Anheuser-Busch and Belgian-based InBev together operate 300 brands, including Anheuser's Budweiser and Bud Light and InBev's Stella Artois and Beck's.
Both companies' boards have approved the terms and InBev has arranged financing for the deal, which is expected to close by the end of the year.