June 23 (Bloomberg) -- Members of the family that has run Anheuser-Busch Cos. for five generations gave differing responses to InBev NV's $46.3 billion takeover bid as the U.S. maker of Budweiser beer considered the unsolicited offer.

Andrew D. Busch, an uncle of Chief Executive Officer August A. Busch IV, said in a June 21 statement that he wants the U.S. brewer to remain based in St. Louis and continue as a ``strong company.'' Another uncle, Adolphus Busch IV, urged Anheuser- Busch's board to accept the $65-a-share proposal.

Anheuser-Busch has been reviewing InBev's advances for more than a week without giving a response. A purchase would put the 132-year-old Budweiser beer in Belgian hands and would represent the third-biggest acquisition of a U.S. company by a foreign buyer, according to data compiled by Bloomberg.

The family probably prefers ``an independent company under August Busch,'' said Thomas Russo, partner at Gardner Russo & Gardner in Lancaster, Pennsylvania, who oversees more than $3 billion and owns shares of Anheuser-Busch. ``The answers that they give will help or hinder. It's a question of how you actually operate. They have a role in that.''

Anheuser-Busch directors met June 20 to discuss the Belgian beermaker's bid and said they were still reviewing the takeover offer while declining to give a response.

``I believe that Anheuser-Busch has created substantial shareholder value over the long term and that it will continue to maintain the best interests of the shareholders and employees,'' Andrew Busch said in a statement e-mailed by his spokesman. ``I support Anheuser-Busch in efforts to remain a strong company headquartered in St. Louis, where it was born and has prospered for more than 130 years.''

Keeping St. Louis

InBev CEO Carlos Brito said last week that he was committed to keeping St. Louis as the combined company's headquarters for North America. August Busch IV told distributors in April, before InBev made its bid, that he wouldn't sell the company ``on my watch.''

The Busch family doesn't own enough of the brewer to sway a shareholder vote on a transaction. Executives and directors, including family members and outsiders, hold 4.5 percent of Anheuser-Busch shares, according to a regulatory filing.

Andrew Busch's spokesman, St. Louis-based independent consultant Frank Hamsher, said yesterday that his client wouldn't make himself available for an interview. He said Busch's holdings in the company ``are substantial,'' though he declined to disclose their size. Attempts to reach Busch were unsuccessful.

No Role

Busch described himself in the statement as a ``non- employee member of the Busch family'' who has no role in corporate decisions.

The combination Anheuser-Busch is studying would create the world's largest brewer by sales volume and combine the U.S. company's Budweiser beer with InBev's Stella Artois, Bass and 200 other brands.

Adolphus Busch told the board last week that he supports a sale to InBev, according to a copy of a letter that the New York Times posted on its Web site.

Anheuser-Busch, the biggest U.S. brewer for more than 50 years, declined 38 cents to $60.67 in New York Stock Exchange composite trading June 20. InBev declined 67 cents to 46.93 euros at 11:38 a.m. in Brussels.

Anheuser-Busch contacted Grupo Modelo SAB CEO Carlos Fernandez over a possible combination to thwart an InBev takeover, the Wall Street Journal reported earlier this month. Modelo is 50 percent owned by Anheuser-Busch through direct and indirect stakes.

Avoiding Conflict

Fernandez resigned from the Anheuser-Busch board last week ``to avoid appearance of any conflict,'' according to Modelo spokeswoman Jennifer Shelley.

Modelo said June 12 it wants to remain a Mexican-owned company, countering speculation it may sell to the U.S. brewer. An Anheuser-Busch purchase of Modelo would make a takeover of the U.S. company more expensive for InBev.

On June 15, InBev told Anheuser-Busch in a letter not to pursue other transactions as it considered InBev's offer.

While Anheuser-Busch decides how to respond to InBev, Brito has lobbied legislators, union workers, St. Louis residents, distributors and beer drinkers to accept a takeover.

InBev faces resistance from Missouri politicians over the unsolicited offer. Governor Matt Blunt, who has described InBev's approach as ``deeply troubling,'' is seeking a federal antitrust review. Brito met with members of Congress on June 17. Missouri Senator Claire McCaskill said after meeting with Brito that she was ``passionately opposed'' to a sale.

CEO's Column

Brito wrote a column that appeared in the St. Louis Post- Dispatch the same day to explain what InBev was prepared to do for the city.

``We would maintain a St. Louis civic presence and support of certain institutions,'' Brito wrote.

Belgium's De Standaard newspaper said June 17 that billionaire investor Warren Buffett supports InBev's bid, without saying where it got the information. Buffett didn't respond to a request for comment.

Buffett's Omaha, Nebraska-based investment and holding company has a 5 percent stake and is Anheuser-Busch's second- largest shareholder, after Barclays Plc, which owned 6.1 percent as of March 31, according to data compiled by Bloomberg.

To contact the reporter on this story: Duane Stanford in Atlanta at dstanford2@bloomberg.net.

Last Updated: June 23, 2008 06:01 EDT