InBev delays share offer, cites capital market volatility
BRUSSELS, Belgium – The Belgian company that's planning to take over Anheuser-Busch says it will postpone issuing nearly $10 billion in new shares until global financial markets stabilize.
InBev plans to use the money from the new stock offer to fund part of its $52 billion dollar buyout of A-B.
InBev officials cited "unprecedented volatility in global capital markets" when they decided not to issue the shares this month. The company did not set a new date for the offer, and said it would continue to watch market conditions.
But InBev also said it is still on target to seal the deal by year's end.
Anheuser-Busch shareholders are expected to approve the takeover November 12. The buyout also needs the OK of federal regulators.