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The largest brewer in the U.S., iconic Anheuser-Busch, will sell out to Belgian rival InBev for $52 billion, the Associated Press reported July 14.

The sale will create the world's largest brewery conglomerate and shift control of Anheuser-Busch from St. Louis, Mo., to Belgium. InBev also owns other worldwide brands like Stella Artois and Becks.

Under the terms of the deal, InBev will pay Anheuser-Busch shareholders $70 per share, up from the $5 per share it had offered in June. The takeover became hostile after the Anheuser-Busch board rejected InBev's initial offer, but an agreement apparently was reached during merger talks this weekend.

InBev said it will use St. Louis as its North American headquarters and keep all of Anheuser-Busch's North American breweries open.