Beer companies merger cancelled?

Anheuser-Busch Cos Inc rejected InBev NV's $46.3 billion takeover bid on Thursday, calling it inadequate, but the largest U.S. brewer left the door open to a higher bid.

 Anheuser's
board unanimously rejected the Belgian-Brazilian company's
$65-a-share bid to create the world's largest brewer, saying the
offer undervalued its assets and its growth plan, which includes a
newly revamped cost-cutting program code-named "Blue Ocean."
Anheuser-Busch is expected to announce an extensive reorganization
aimed at bolstering profits that will include cutting more than $500
million in costs, these people said. The savings will come from
reducing marketing expenses and possibly shedding assets like its
Busch Gardens theme park business and its packaging unit.