Budweiser takeover gets clearance

http://news.bbc.co.uk/go/rss/-/1/hi/business/7730718.stm

Version 0 of 1.

Stella Artois brewer InBev has been given the approval by regulators to take over Budweiser maker Anheuser Busch in a $52bn (£35.3bn) deal.

However, the US Justice Department says the deal is conditional on InBev selling its Labatt USA subsidiary.

The sale is to avoid the combined firm dominating the beer market in upstate New York, where it would control almost 50% of the market.

The takeover will created the world's biggest brewer.

COMBINED BRAND MENU Stella, Budweiser, Beck's, Hoegaarden, Leffe, Brahma, Staropramen, Michelob, Rolling Rock

Some US politicians had expressed anger at the prospect of a foreign takeover and the deal ensures that Budweiser's headquarters will remain in St Louis, Missouri while none of Anheuser's US breweries will be closed.

Shares of Anheuser-Busch, maker of Budweiser, hit a record high of $69.26 as the deal neared completion

The deal has already been approved by shareholders deal but is still subject to regulatory approval in Britain and China.