Also, the all-cash offer means Anheuser's shareholders would be left with no stake in Inbev, poised to be the largest brewer in the world if the takeover goes through. The beer industry is experiencing a wave of consolidation, in part as a means to counter the rising costs of key ingredients like wheat, with SABMiller and Molson Coors Brewing aiming to combine their American units, while Scottish & Newcastle has agreed to be broken up by Carlsberg and Heineken. InBev itself is the result of a brewing mega-merger, the 2004 amalgamation of the Belgian Interbrew and the Brazilian Ambev. Its brands include Stella Artois and Beck's. Philip Durell, senior analyst at The Motley Fool, said that Anheuser-Busch "deserves to have someone come in and take over the business," noting that in the past five years, earnings per share have only increased slightly, and mostly due to share buybacks, not from real growth.