Anheuser-Busch has begun preliminary talks with Mexico’s Grupo Modelo about a possible combination of the two brewers that could help the US beer giant thwart an unsolicited, $46.35bn bid from InBev of Belgium, reports the WSJ. Anheuser in recent weeks approached Carlos Fernandez, the Modelo chief executive who is also an Anheuser director, about a deal after news of InBev’s interest in Anheuser. It is not clear what kind of transaction was discussed. The FT meanwhile reports that InBev has moved to quell growing opposition to its takeover bid, even as shares in Grupo Modelo rose 8% on speculation about the talks. Lex says InBev needs this deal more than Anheuser and that “desperation is never the basis of a happy union”. Separate FT analysis here.

This entry was posted by Gwen Robinson on Friday, June 13th, 2008 at 5:43 and is filed under Capital markets, M&A. Tagged with anheuser-busch, Grupo Modelo, InBev. Edit this entry.