Anheuser-Busch reportedly plans to reject InBev’s unsolicited 30 billion euro takeover offer on the basis that it undervalues the company. According to US media reports, Anheuser-Busch also intends to present its own restructuring plan soon. A rejection would sets the stage for InBev to either raise its bid or take the offer directly to shareholders.

Currently Belgium based InBev is the world’s second largest brewer with 12.8% of the market, just behind SABMiller which has 13.1%. A merger with fourth placed Anheuser-Busch would put it well in the lead over 21% of the market share.

Anheuser-Busch’s restructuring reportedly could include the sale of its theme park operations and packaging division as well as layoffs as part of more than 300 million euros worth of cost-cutting efforts. However unions and US politicians would be unhappy with job cuts and analysts said the company might find it difficult to sell its 10 amusement, marine and water parks in the weak US economy.

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