AB InBev and SABMiller: regulators extend deadline for formal offer
Earlier this month, AB InBev and SABMiller announced that an agreement had been made ‘in principle.’ This was announced on October 13, with AB InBev offering £44 per share in cash (with a partial share alternative for around 41% of SABMiller shares).
Discussions between the two brewing giants are in progress to formalise the offer.
The two parties must comply with deadlines set by the UK’s panel on takeovers and mergers. When AB InBev initially confirmed its approach to SABMiller on 16 September, it was given a deadline of October 14.
With AB InBev and SABMiller announcing an agreement in principle on October 13, the deadline was extended to today (October 28) to allow both parties to continue discussions and for AB InBev to formalise its offer.
Today the two companies announced that regulators have agreed to extend the deadline by a week, to 5pm on November 4.
About the deal:
