Belfast Telegraph

UK Website Of The Year

Budweiser brewer in takeover talks after bid rejected

By Roger Baird

Published 09/10/2015

£68bn bid: Carlos Brito of AB InBev
£68bn bid: Carlos Brito of AB InBev

Budweiser brewer Anheuser-Busch InBev has urged SABMiller shareholders to force its board into serious takeover talks, after the rival brewer rejected its sweetened £68bn bid.

AB InBev said in a statement yesterday it was "surprised" that the Peroni and Grolsch firm continues to say that this proposal still substantially undervalues the business.

It added that this claim "lacks credibility" because its improved offer of £42.15 a share represents a premium of around 44% to SABMiller's undisturbed closing share price.

AB InBev also pointed out that SABMiller's largest shareholder Altria Group, which owns 27% of the brewer and has three seats on its board, backs the bid that was rejected this week.

The Belgium-based brewer also attacks claims by SABMiller that it has not done enough work to clear regulatory hurdles in the way of the deal, particularly in China and the US.

AB InBev said: "Together with its advisers, AB InBev has done significant work on regulatory matters and has identified solutions that provide a clear path to closing."

Carlos Brito, chief executive of AB InBev, said: "Notwithstanding our good faith efforts, the board of SABMiller has refused to meaningfully engage with us.

"Our proposal creates significant value for everybody."


xxxx yyyy xxxxxx yyxxx yyy xxxxx yyyy yxy yyy xxx yyyy yxyxx

Belfast Telegraph

Your Comments

COMMENT RULES: Comments that are judged to be defamatory, abusive or in bad taste are not acceptable and contributors who consistently fall below certain criteria will be permanently blacklisted. The moderator will not enter into debate with individual contributors and the moderator’s decision is final. It is Belfast Telegraph policy to close comments on court cases, tribunals and active legal investigations. We may also close comments on articles which are being targeted for abuse. Problems with commenting?

Read More

From Belfast Telegraph