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Now that InBev SA has closed its $52 billion deal to buy Anheuser-Busch Co., will we see further beer industry consolidation? In this edition of Inside the Deal, Argus Research securities analyst Erin Ashley Smith says with InBev busy digesting A-B and Moslon Coors Brewing Co. and SABMiller focused on their joint venture, we could see deal activity driven by smaller craft brands and mid-level independent brands such as Heineken International, which may look to M&A to gain scale and stay competitive. In addition, as demand for brew in emerging markets wanes, Smith tells Suzanne Stevens that global players may slow expansion of their own beers in the short term, but may find well-established brands in Latin America, India and other emerging economies tasty targets.