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EU: SABMiller rejects sweetened $104 billion bid

By  |  October 7, 2015

SABMiller rejected Anheuser-Busch $104.7 billion takeover proposal as too low, putting it in conflict with its biggest shareholder, which urged the brewer to support the overture.

As with previous offers from the maker of Budweiser, this one had two tiers: AB InBev would pay 42.15 pounds a share in cash for a majority of the stock. The price is 44 percent above SABMiller’s closing level on Sept. 14, the day before renewed speculation about a deal. AB InBev proposes paying 37.49 pounds a share in cash and stock for the stakes held by SABMiller’s two biggest shareholders, the potential acquirer said.

AB InBev’s approach, made public Wednesday after two weeks of closed-door discussions, raises the stakes in the back-and-forth battle over combining the world’s two largest beermakers. A merger would create a beverage empire controlling the No. 1 or 2 positions in 24 of the world’s 30 biggest beer markets.

Full content: The Wall Street Journal

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