Anheuser-Busch (BUD, $67.50, up $1.00) said “yes” to InBev’s $52 billion takeover bid in a deal that will create the world’s largest beer maker. The new company will be called Anheuser-Busch InBev. Both companies’ boards have signed-off on the paperwork which InBev will finance. The deal equates to $70 a share for current shareholders and is expected to close by the end of the year.

Just how big will the new company be? Anheuser-Bush InBev will have over $36 billion in annual sales and will brew about a quarter of the world’s beer. The July 65 calls (BUDGM, $2.75, up $0.50) were trading at $0.40 when we rolled-over our June positions.

The reason the stock is not at $70 and the calls are not at $5 is because there are some hurdles that remain. That is why it is imperative that you sell the July calls today. Yeah, you might be able to squeeze out a few more cents but the risk is not worth it because the July options expire Friday anyway.

The deal ends all of the takeover drama and is a lesson that Microsoft (MSFT, $25.61, up $0.36) and Yahoo (YHOO, $22.45, down $1.12) could learn from. InBev made a bid, BUD rejected. InBev raised the offer $5 and BUD accepted. Microsoft and Yahoo are making noise again today as Yahoo and Carl Icahn battle it out in the papers.

Rick Rouse