Anheuser-Busch’s board of directors plans to meet face-to-face this week for the first time since rival brewer InBev formally made its $46bn bid to acquire the company, according to people close to the situation.

The board will weigh a variety of options for Anheuser, the 150-year-old brewer of Budweiser beer. But in a sign that Anheuser may not unequivocally reject InBev’s advances, insiders say its advisers will focus the board’s attention on the valuation of InBev’s bid. At $65 per Anheuser share, they may argue the bid is too low for a brand InBev has called “iconic”.