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ST. LOUIS (AP) -- Anheuser-Busch, the maker of Budweiser and Bud Light, has agreed to a takeover by a giant Belgian brewer, a union that creates a global beer leader and brings to an end one of the most iconic names in American business.

The board of directors of Anheuser-Busch Cos. Inc. on Sunday accepted a sweetened $52 billion takeover offer from Belgian brewer InBev SA, according to a joint press release.

The deal, which is subject to shareholders' and regulators' approval, would create the world's largest brewer and create the fourth-largest consumer product company worldwide.

"This combination will create a stronger, more competitive global company with an unrivaled worldwide brand portfolio and distribution network, with great potential for growth all over the world," Carlos Brito, CEO of InBev, said in the statement.

For InBev, the maker of Stella Artois and Beck's, the deal gives an aggressive company an iconic beer brand -- Budweiser -- to sell into emerging markets where it has already established a firm footprint.

InBev is the world's second-largest beer-maker behind SABMiller. Anheuser-Busch is by far the largest brewer in the U.S. with more than 48 percent of the market share.

Brito will be chief executive officer of the combined company, which will be named Anheuser-Busch-InBev. Shareholders will receive $70 a share, a $5 increase over the offer Anheuser-Busch rejected in June.

It wasn't immediately clear how long approval might take. Several Missouri politicians have expressed concerns about the merger -- especially how it would affect the approximate 6,000 people employed by Anheuser-Busch in St. Louis.

InBev said it plans to use St. Louis as its North American headquarters, and that it will keep open all 12 of Anheuser-Busch's North American breweries.

InBev announced its intent to try and purchase Anheuser-Busch on June 11. The Anheuser-Busch board initially voted against the merger, calling the initial $65 per share offer too low.

That prompted much squabbling between the companies over the past few weeks. InBev filed a motion seeking the removal of all 13 Anheuser-Busch board members; Anheuser-Busch filed suit calling the InBev effort an "illegal scheme" that threatened to defraud Anheuser-Busch shareholders. Among other things, the suit noted that InBev failed to disclose it operates a brewery in Cuba.

Few products are associated with America as much as Budweiser. Its Clydesdale horses are fixtures of Super Bowl ads, and even the label is red, white and blue, with an eagle swooping through the "A."

"This agreement provides additional and certain value for Anheuser-Busch shareholders, while enhancing global market access for Budweiser, one of America's true iconic brands," August Busch IV, Anheuser-Busch president and CEO, said in the statement.

The merger, if completed, also will bring to an end a name synonymous with St. Louis. From college buildings to theme parks to offices to the stadium where the Cardinals play baseball, the Busch name is virtually everywhere in the Gateway City.

Eberhard Anheuser acquired the Bavarian brewery in 1860 and renamed it E. Anheuser & Co. His son-in-law, Adolphus Busch, joined the company in 1864 and it was eventually renamed Anheuser-Busch.

The company survived Prohibition by selling products ranging from ice cream to root beer.

Fears that InBev would make layoffs prompted some U.S. politicians and civic leaders speak out against the deal. At least two Web sites also sprung up opposing the merger. SaveBudweiser.com claims to have more than 60,000 signatures from merger opponents. SaveAB.com hosted a recent anti-merger rally that drew hundreds to downtown St. Louis.

InBev is renowned for shaving costs since it was formed in a 2004 merger between Belgium's Interbrew and Brazil-based AmBev. The company has not said if it will shed Anheuser-Busch staff to make savings. But some cutbacks seem likely.

The company said it expects cost synergies of at least $1.5 billion a year by 2011 over three years. The deal won't benefit earnings per share until 2010, it said.

Even without the merger, Anheuser-Busch said last month it planned to cut pension and health benefits for salaried employees as part of an effort to slash $1 billion in costs by the end of 2010. The plan called for offering early retirement to 1,300 salaried workers 55 and older.

The cost-cutting effort was part of a strategy to fend off the merger. Anheuser-Busch also owns a 50 percent share in Grupo Modelo, Mexico's leading brewer, and a 27 percent share in China brewer Tsingtao.

The beer industry has been consolidating in recent years amid rising costs for transportation fuel, aluminum for beer cans and key ingredients such as hops.

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Associated Press writers Jim Salter in St. Louis and Aoife White contributed to this report.

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On the Net:

Anheuser-Busch Cos. Inc.: http://www.anheuser-busch.com

InBev SA: http://www.inbev.com

Savebudweiser.com: http://savebudweiser.com

(Copyright 2008 by The Associated Press. All Rights Reserved.)

Time can only tell--will have to wait and see

It's too early to say. However, if it is positive it will the exception.

Compare how the loss of TWA, AG Edwards, and May Co. has affected the St. Louis area. Are we in better shape now economically? I think the overall health of the country is a more realistic influence.

I wish Inbev would take its money and leave the US. They are greedy people who are just interested in taking control of an American icon because they can. There will never be another AB product in our house - just like there was never an Inbev product. I feel for the people who work at AB and also for the charities AB supported. What's next - Inbev Stadium?

I'm still in disbelief, can't believe the stock holders would sell us out. Why can't these people leave the american companies alone, at the rate St. Louis is going we will be the poorest city in the state with massive unemployment, how do these people sleep at night? I believe it is a big mistake, in less than 2 years the AB building will be empty and just another eye sore for the people of St Louis to look at.

Unless specifics were written into the deal this could potentially become another AA/TWA fiasco to this city.

I plan on finding a new beer to drink ..I don't see how they can sell out ...what happens to Busch Stadium ...will it now be called InBev? That would be a total shame.

As a country we need to now boycott all AB-InBev products and leave InBev holding the Bag for 52B in debt. STL has been promised by the take over company so many time in the past that STL would play a vital role going forward regional HQ, etc. only to vanish in a couple of years. Look at what Macys did (STL will be the regional HQ) and after 2 yrs it is gone, look at what AA did. You could go on and on.

I THINK THAT IT IS A SHAME TO HAVE THE PROFITS FROM THE SALE WILL GO SOMEWHERE ELSE.AND ANOTHER THING I DONT UNDERSTAND WHY THIS HAPPENED. IS THERE SOMETHING THAT AB DID TO ALLOW THIS OR WERE THERE BIG MISTAKES THAT AB MADE.I WILL NO LONGER BUY THERE PRODUCTS.

I don't care. Time changes everything. Americans took over foreign businesses and land for decades. Now it's payback time.

It is a sad, sad day for the world. However, the Bible says it will happen--GLOBAL DOMINATION. The end is near.

being a survivor of the mcdonnell douglas MERGER i would like to inform you that once this type of event occurs there are always a change in the lives of the employeees and their families, which are only the tip of the iceberg. the communities effected also will have adverse reactions as well. it will take time for this to happen but mark my words it will have an adverse effect. if you would like more facts or opinion EMAIL ME. have a nice day.

The Busch family has always taken care of St. Louis. I don't think InBev will. Time will tell but until then I am not drinking anything but Coke products. At least they are American and do take care of ATL.

Britos is a man without any honor. He has said what it took to make the buy, but he has no intention of fulfilling his promises. Like a typical corporate raider he will gut AB, make sure he gets a big profit, then sell off anything that is left. I hope the stockholders enjoy their profits and enjoy the suffering of the poor and needy that AB used to support, the poor retirees that will foot a major part of the bill, and the charities that AB used to support as they try to find replacement monies to help fill the void that is going to result. This is a tragic day for St. Louis. Personally I hope Britos chokes on his success, he is nothing other than an oily snake oil salesman who promises everything and delivers nothing. His past record speaks for him, not his pretty speeches.

This is such a shame for St. Louis, the employees, and the country. Who exactly does this benefit? That's right-the rich, and the foreign countries. Why exactly did the family give up so much of their shares?!?!

I feel Busch has sold out his family,his city, and his country. I just don't think it's a good idea. I think A-B will be sorry in the long run that they did it.

Well Is shocking that August A Busch sold out!
His father and his grandfathers and great grandfathers are turning over in their Graves
Its very sad day!:(

Foreign companies taking over domestic companies is never "good news." I don't see anything on the news about local company takeovers except AB and Monsanto. It happened to Purina, too. Nothing positive happened from that.

I sent this email to InBev earlier today:
There has been a great deal of concern about InBev's take over of AB in the area where I live ... some sixty miles south of St. Louis MO. During the early 1960's I worked at Barnes Jewish Hospital doing research in EEG. I worked with another lab assistant, Steve R. His father was a brewmister at AB. In the course of our work and friendship I met all of the old AB brewmisters. They got excited when they found that I had spent the previous five years in Germany. I was not too happy with any of the Bush products at that point. The only one I would drink was their Michalob, and I was not too excited by its' taste. During one of my visits to AB the guys took me into the back room and gave me a taste of what looked like a regular Budweiser in a regular bottle. It wasn't. It was good beer with the German taste I was accustom to. At the time I drank mostly Becks, but it was hard to get in St. Louis.The brewmisters told me that the beer they had given me was the original Budweiser recipe which had been modified a couple of years earlier. The new recipe had been adopted to encourage women to drink more beer. The product had been made sweeter and with less body. The old guys were not happy with the change. After that on a regular basis they would send me a case of their back room Bud made the way they liked it.

The same thing happened with Budweiser's purchase of a large portion of Grupo Modelo. The quality of their beer has also fallen considerably.

I would like to suggest a new product after you take over Budweiser ... "Classic Budweiser" made with the original recipe. Budweiser would have one new customer and judging from the sales of good imported beer in this area many more new consumers.

st.louis families such as my own have had my father, grandfather, uncles,friends retire from ab. i lived at one end of 7 th st. address was 3131 so.7 th. ab was on same block, my father at one end ab at the other end.i was so happy to see the clydesdale horses all the time.this will definately have a lot of fond memories go by the way side. i think its a great loss for our city.