InBev awaits answer from Anheuser on $46B offer

The Belgium-based maker of Stella Artois said it wrote to Anheuser again on Wednesday to assure the company's board that it has struck deals with a group of banks and has already paid commitment fees to finance the takeover over.

Anheuser has not formally responded to InBev since it first made an offer for $65 per share on June 11.

The Wall Street Journal reported on its Web site late Wednesday that Anheuser is prepared to reject the offer, setting the stage for a hostile takeover battle.

Anheuser is expected to argue that InBev's offer undervalues the St. Louis-based brewer, the Journal reported. Anheuser also will present its own strategic plan that is likely to include the sale of noncore assets such as Anheuser's theme parks and packaging business, the Journal reported, citing unnamed people familiar with the matter.

Anheuser-Busch spokeswoman Brenda Williams said the company had no comment on the report. The company has declined comment on InBev's proposal since it was made, except for a brief letter from Anheuser-Busch Chief Executive August Busch IV which said the board of directors would make its decision in "due course."

Meanwhile, InBev says it has paid $50 million in commitment fees to a lending group that includes Banco Santander, Bank of Tokyo-Mitsubishi, Barclays Capital, BNP Paribas, Deutsche Bank, Fortis, ING Bank, JP Morgan, Mizuho Corporate Bank and Royal Bank of Scotland.

InBev CEO Carlos Brito made another plea for the support of Anheuser's board for an agreed takeover but stressed time was running out.

"This firm proposal is subject only to the negotiation of mutually satisfactory definitive agreements," he said. "We are committed to entering into a constructive dialogue with you to achieve a friendly combination."

But Brito warned that "time is of the essence."