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Anheuser Busch approves $50bn sale to InBev

Budweiser brewer Anheuser-Busch agreed last night to be taken over by Belgian rival InBev for $70 a share, marking an amicable end to a month-long takeover battle that had recently grown hostile. The new company’s board is set to include two representatives from Anheuser, one of whom was expected to be current Anheuser’s chief August Busch IV, a member of the company’s founding family. The new company will be called Anheuser-Busch InBev.