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SABMiller accepts new $106 billion AB InBev takeover offer
Source: Reuters
Deals | Tue Oct 13, 2015 5:09am EDT
SABMiller accepts new $106 billion AB InBev takeover offer
BRUSSELS/LONDON | BY PHILIP BLENKINSOP AND MARTINNE GELLER
SABMiller (SAB.L) accepted a takeover proposal at the fifth time of asking after Anheuser-Busch InBev (ABI.BR), the world's largest brewer, set out a cash-and-share package currently worth 69 billion pounds ($106 billion).
The deal to create a brewer making almost a third of the world's beer would rank in the top five mergers in corporate history and be the largest takeover of a UK company.
After repeated rebuttals from its next largest rival, AB InBev said on Tuesday it was willing to pay 44 pounds in cash per SABMiller share, with a partial share alternative set at a discount and limited to 41 percent of SABMiller shares.
SABMiller said it had indicated to AB InBev that its board would be prepared to accept the offer and said it had asked for a two-week extension to the deadline set for its rival to announce a firm intention to bid. The new deadline is Oct. 28.
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SABMiller accepts new $106 billion AB InBev takeover offer
BRUSSELS/LONDON | BY PHILIP BLENKINSOP AND MARTINNE GELLER
SABMiller (SAB.L) accepted a takeover proposal at the fifth time of asking after Anheuser-Busch InBev (ABI.BR), the world's largest brewer, set out a cash-and-share package currently worth 69 billion pounds ($106 billion).
The deal to create a brewer making almost a third of the world's beer would rank in the top five mergers in corporate history and be the largest takeover of a UK company.
After repeated rebuttals from its next largest rival, AB InBev said on Tuesday it was willing to pay 44 pounds in cash per SABMiller share, with a partial share alternative set at a discount and limited to 41 percent of SABMiller shares.
SABMiller said it had indicated to AB InBev that its board would be prepared to accept the offer and said it had asked for a two-week extension to the deadline set for its rival to announce a firm intention to bid. The new deadline is Oct. 28.
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Read more: http://www.reuters.com/article/2015/10/13/us-sabmiller-m-a-a-b-i-idUSKCN0S70GJ20151013
