June 27, 2008: The board of Anheuser-Busch has rejected InBev’s bid to purchase the company, but the takeover is far from over.

Yesterday in court, InBev filed a suit claiming that A-B shareholders can remove all 13 board members at the brewer’s annual board meeting. The suit is the likely first step in a hostile takeover bid.

Meanwhile, A-B management announced that they intend to cut 1,300 jobs by offering early retirement buyouts.

Read more:

St. Louis Post Dispatch: A-B Board Rejects InBev Offer [1]

St. Louis Business Journal: A-B Cuts to Include Up to 1,300 Early Retirements [2]