Anheuser-Busch InBev Gets Merger News as it Misses Profit Forecasts
Anheuser-Busch InBev shares were on the rise Friday despite missing second quarter profit forecasts.
Anheuser Busch reported quarterly net income of $
152 million. Earnings came in at $1.06 a share, 3 cents below analysts' estimates. The brewer posted revenue of $10.81 billion, which was in-line with predictions.
The company also reiterated its expectation of closing the SABMiller deal this year -- this comes as the London-based brewer's board approved the deal Friday morning, according to
CNBC.
AB InBev recently raised its offer to $104.21 billion.
Bloomberg also reported Friday that
China's Ministry of Commerce gave the "Megabew" merger its last major regulatory approval after SABMiller agreed to sell its 49 percent stake in China's top-selling beer,
Snow.
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