06/26/2008 05:12 am ET Updated May 25, 2011

Warren Buffett To Back InBev Bid For Anheuser-Busch, Rake It In

Warren Buffett, the world's richest man and chairman of Berkshire Hathaway Inc., plans to tell Anheuser-Busch Cos. chief August Busch IV that he supports Belgian brewer InBev's proposed $46.3 billion takeover offer of the Budweiser brewer, according to an article Belgian newspaper De Standard posted on its Web site Tuesday.

Omaha, Neb.-based Berkshire Hathaway owns more than 35.3 million shares, or 4.9 percent, of Anheuser-Busch stock, and is believed to be the brewer's second-largest shareholder behind the 5.7 percent held by Barclays Global Investors NA of San Francisco. Berkshire Hathaway's stake in Anheuser-Busch is worth nearly $2.3 billion at the current offer price of $65 per share.

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