UPDATE 1-Anheuser-Busch to buy out Craft Brew Alliance in $321 million deal

Brewer Anheuser-Busch Inbev NV will buy the rest of Craft Brew Alliance that it does not own in a deal valuing the Portland-based brewing company at about $321 million, the two companies said on Monday. Shares of Craft Brew Alliance soared 122.6% to $16.32 after the bell, hovering near the offer price of $16.50 in cash. The deal is a reversal in stance by the world’s largest brewer, which owns 31.2% stake in Craft Brew and had said in August it would not buy out the company.