The $46.3bn (â¬30bn) approach from Belgian brewer InBev for American rival Anheuser-Busch could herald a wave of unsolicited bids in the European market, according to lawyers. But differences in the way European Union member states implement the Takeover Directive of 2006 mean some countries will be more welcoming to hostile bidders than others.
InBevâs approach is potentially the largest global all-cash acquisition, after a hostile $47.5bn bid from technology giant Microsoft for search engine Yahoo! was withdrawn in May. It highlights an appetite among cash-rich bidders to make moves on targets, in spite of an uncertain deal environment, according to Michael Shaw, a partner in the M&A practice at law firm Herbert Smith.
