Brewer SABMiller accepts AB InBev offer
BREWER SABMiller’s board has accepted a final takeover offer from rival Anheuser-Busch InBev heralding what will be one of the world’s biggest ever takeovers.
The Belgium-based AB InBev had raised its cash offer to US$$60 per share from $58, in a revised proposal tabled after the value of the pound slumped following Britain’s vote to leave the EU.
The transaction now values SABMiller’s entire “issued and to be issued” share capital at around $104 billion, AB InBev said.
The deal has gained the backing of Chinese regulatory authorities and has previously been approved in the United States, European Union and South Africa, where SABMiller has its origins.
The buyout of London-based SABMiller is expected to boost AB InBev’s prospects in developing markets in Africa and in China.
If approved the takeover will create a new entity selling more than twice as much beer as its nearest rival, Heineken, which is currently the world’s third-largest brewer.