Brewers' shares boosted by offer

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Belgian firm Inbev's move to become the world's biggest brewer has boosted shares in the firm, which makes Stella Artois, by 7.5%.

The unsolicited bid for Anheuser-Busch, which makes Budweiser, also pushed up shares in the American target by 8.5%.

Anheuser said on Wednesday that it was "reviewing the merits" of the $46bn ($24bn) proposal, but analysts say it will have to do a deal.

Anheuser was the world's biggest brewer before being overtaken by SABMiller.

Analysts suggest Anheuser-Busch has concentrated too much on its home market, where the popularity of wines, spirits and foreign beers has increased at the expense of American-brewed beers.

"They've squandered 5 years on being US-centric and not doing all the things they needed to do to join the global gang," said Tom Pirko, from US brewing industry advisory firm Bevmark.

Companies like Inbev and SAB have grown through acquisition.

"We view this combination as a natural next step for both companies, who already enjoy successful partnerships in the US, Canada and South Korea," Inbev chief executive, Carlos Brito, said when the bid was announced on Wednesday.

If the deal went ahead, Inbev said it would aim to make Budweiser a globally-known brand like Coca-Cola and Pepsi.

At the close of trade, both companies' shares had fallen back slightly.

In New York, Anheuser-Busch finished up $3.05, or 5.2%, at $61.40. While Inbev shares ended 6.2% higher at 50.21 euros.