InBev closer to deal for Bud’s maker

Anheuser-Busch Cos. began talks with InBev after the Belgian brewer sweetened its takeover offer by 7.7% to $70 a share, ending the 156-year-old company’s monthlong fight to remain independent, a person with knowledge of the situation said Friday.

Discussions over the $49.9-billion bid may still fall through, said the person, who asked not to be identified because the negotiations aren’t public.

Both companies’ shares rose on optimism that InBev would gain control of the 132-year-old Budweiser brand and become the world’s largest brewer by sales volume. Anheuser-Busch, which has gained 26% since reports of InBev’s planned bid surfaced, had spurned the $65-a-share proposal as inadequate.

The talks were reported earlier by the New York Times, which indicated that billionaire investor Warren Buffett may support a deal.

His company, Berkshire Hathaway Inc., is Anheuser-Busch’s second-largest shareholder.

Anheuser-Busch gained $5.29, or 8.6%, to $66.50.