Anheuser-Busch shareholders approve InBev merger

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The takeover by InBev of Anheuser-Busch is one step closer to a done deal. From the press release:

Anheuser-Busch Cos. Inc. (NYSE: BUD) today announced that a majority of its shares have been voted to approve the proposed combination between InBev N.V./S.A. and Anheuser-Busch during a special shareholder meeting held today.

At the closing of the transaction, Anheuser-Busch shareholders will be entitled to receive $70 in cash for each share of outstanding Anheuser-Busch stock, and Anheuser-Busch will become a wholly owned subsidiary of InBev. Closing of the transaction remains subject to necessary regulatory approvals and other customary closing conditions. A closing date has not been announced, but the parties continue to expect the deal to close before the end of the year. InBev shareholders approved the combination on Sept. 29.

This is a pretty good deal for shareholders but not such a good deal for the employees who may lose their jobs once the merger is complete.

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