The Week: City news - InBev buys Anheuser-Busch

Anheuser-Busch, the Budweiser brewer, has accepted a raised takeover bid of $52 billion (£26 billion) from InBev, creating the world's largest brewer, Anheuser-Busch InBev.

Anheuser-Busch rejected an initial bid from InBev of $46.3 billion in June, arguing that it undervalued the company. The deal means that Anheuser-Busch shareholders will receive $70 a share, up $5 on the first bid. InBev's chief executive, Carlos Brito, will be the chief executive of the combined company.