Anheuser-Busch, the largest US brewer, yesterday declared its enthusiasm for further expansion into developing markets, even as its board met to discuss a $46.3bn takeover bid from InBev, its larger, more globalised rival.

As Anheuser's board met in St Louis to consider the InBev bid, the Budweiser brewer announced that it was taking over full control of a small joint venture in India launched less than two years ago.