Inbev has launched a $46.3 billion takeover offer for Anheuser-Busch, which would create the world’s largest brewer.

Belgium brewer Inbev, which makes Stella Artois and Beck’s, said it would make Anheuser-Busch’s Budweiser its flagship brand.

In addition, all of Anheuser-Busch’s US breweries would be maintained.

The offer is for $65 a share, a 35 per cent increase over Anheuser-Busch’s 30-day average share price.

Carlos Brito, chief executive officer of InBev, said: “We have the highest respect for Anheuser-Busch, its employees and its leadership, who have built the leading brewer in the US and grown the iconic Budweiser brand. Together, we would draw on the collective expertise of both companies’ management and employees.”

Anheuser-Busch’s St Louis base would become the company’s North American headquarters, said Inbev.

In a statement on its website, Anheuser-Busch acknowledged it had received an unsolicited proposal from Inbev and would evaluate the offer carefully.

Anheuser-Busch is the leading American brewer, holding a 48.5 percent share of US beer sales. The tie-up would propel the combined company to the top spot of leading brewers, overtaking current leader SABMiller.

The proposal follows a wave of consolidation in the industry, which is fighting a consumer downturn and a trend for premium, spirit-based drinks.

Earlier this year, Foster’s brewer Scottish & Newcastle merged with European giants Heineken and Carlsberg.