Anheuser-Busch teamsters come to a tentative agreement on five-year contract

The contract covers more than 5,000 employees at the company's 12 U.S. breweries. Union members will vote on the agreement in November.

Terms include annual wage increases, health benefits for employees and their families and better life insurance coverage. There's also a renewal of the company's contractual commitment to keep all 12 U.S. breweries open for the life of the agreement.

Tuesday's announcement also says the contract will remain in force once the St. Louis brewer completes its planned acquisition by Belgium's InBev.