Anheuser-Busch has agreed in principle with SABMiller to take over the brewer at $67.63 a share. This will form the world’s biggest beer company. Anheuser-Busch has been trying for nearly a month to acquire SABMiller but its previous offers had been rejected. The brewer said Tuesday it increased its offer overnight for SABMiller and that both boards “reached agreement in principle on the key terms of a possible recommended offer.” Wednesday was the deadline for Anheuser-Busch to make a formal offer under U.K. takeover rules.

SOURCE: CBS News/Associated Press