InBev Reiterates $65-Per-Share Offer to Buy Anheuser

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InBev NV, the world's biggest brewer, said its $65-a-share offer to acquire Anheuser-Busch Cos. is based on the beermaker's current assets and business.

``It is our strong belief that no alternative transaction that you could effectuate would create more value for your shareholders,'' said Carlos Brito, chief executive officer of the Leuven, Belgium-based brewer, in a letter today to Anheuser- Busch CEO August Busch IV, according to a statement.

Anheuser-Busch may try to thwart InBev's $46.3 billion takeover offer by pursuing a combination with Mexico's Grupo Modelo SAB and has approached Modelo CEO Carlos Fernandez, the Wall Street Journal reported on June 12, citing people familiar with the discussions.

Anheuser-Busch, the maker of Budweiser, already owns 50 percent of Corona maker Grupo Modelo and might try to make itself too expensive to take over by purchasing the remaining half, Mariann Montagne, an analyst at Thrivent Asset Management in Minneapolis, said last week. Thrivent owns Anheuser-Busch shares.

``We have read the recent press reports suggesting that you may have approached Grupo Modelo,'' Brito said in the letter.

``We would expect that prior to proceeding with any alternative transaction, especially if your shareholders will not be given the opportunity to vote on it, you would first fully explore our offer,'' he wrote.

To contact the reporters on this story: Kari Lundgren in London at klundgren2@bloomberg.net; Caroline Salas in New York at csalas1@bloomberg.net.