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ST. LOUIS, Mo. – After gaining regulatory clearance from antitrust authorities, Brussels, Belgium-based InBev completed the $52 billion acquisition of the No. 1 U.S. beer maker, Anheuser-Busch, based here, making the combined entity the largest brewer in the world, the St. Louis Post-Dispatch reported.
The company’s new name is Anheuser-Busch InBev. Shares of Anheuser-Busch will no longer trade on the New York Stock Exchange, and shareholders will receive $70 in cash for each of the U.S. brewer’s shares held. Beginning Nov. 20, the new company will trade under the ticker symbol ABI on the Euronext Brussels stock exchange, the report stated.
St. Louis is the North American headquarters for the new company, according to the report.
"By bringing together these two great businesses, we have created a stronger, more competitive global company with a leading international brand portfolio and distribution network, and great potential for growth all over the world," Anheuser-Busch InBev CEO Carlos Brito said in a press release cited by the newspaper.
The new organization’s main goals are to combine the two companies, pay off debt and obtain synergies, including $1.5 billion in cost cuts over the next three years, according to the report.
"There's a lot of work that needs to be done," Stifel Nicolaus analyst Mark Swartzberg told the Post-Dispatch.