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UK: AB InBev and SABMiller want another week for merger talks

 |  January 29, 2015

Budweiser maker Anheuser Busch InBev’s $106 billion bid for SABMiller has been delayed as the world’s two biggest brewers iron out details of the complex deal that ultimately needs the approval of regulators stretching from the United States to South Africa.

The UK’s Takeover Panel on Wednesday granted a one-week extension of the deadline for AB InBev to make a formal offer, delaying it until Nov. 4.

The companies said Wednesday that AB InBev had confirmed the financial terms of the agreement in principle announced Oct. 13, as well as arrangements to finance the cash portion of the offer. London-based SABMiller requested the extension so talks on “other aspects of the transaction” could continue.

AB InBev, whose brands include Budweiser, Corona and Stella Artois, is seeking to acquire SABMiller’s holdings in Africa, Asia and Eastern Europe as competition from craft brewers, wine and spirits slows sales growth in developed markets.

Full content: Consumerist

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