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Anheuser-Busch plans to reject InBev offer - source

Wed Jun 25, 2008 10:13pm EDT

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PHILADELPHIA, June 25 (Reuters) - Anheuser-Busch Co (BUD.N) plans to reject InBev NV's INTB.BR unsolicited $46.3 billion takeover offer as too low, saying it undervalues the company, a source familiar with the situation said on Wednesday.

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Anheuser-Busch and InBev could not be immediately reached for comment.

In rebuffing InBev's offer, Anheuser-Busch plans to map out its own restructuring plan soon that would include the sale of the company's theme park operations, The Wall Street Journal reported.

The New York Times added that the plan also would include layoffs, more than $500 million in cost-cutting efforts and the sale of of Anheuser-Busch's packaging unit. (Reporting by Jessica Hall; Editing by Kim Coghill) (For more M&A news and our DealZone blog, go to here)

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