AB InBev confirms it has approached SABMiller, exploring mega-brewer tie-up
Rumours of a merger have been circulating for some time, but now both brewing heavyweights have confirmed the discussions. No offer has yet been made.
As per the City Code on Takeovers and Mergers, AB InBev has until 5pm on Wednesday 14 October to announce a firm intention to make an offer; or say it does not intend to make an offer.
Brewing heavyweights
AB InBev is the largest brewer in the world, with its popular brands including Budweiser, Stella Artois and Beck’s.
Beer and soft drink business SABMiller, the world’s second largest brewer, boasts brands such as Peroni, Grolsch and Foster’s.
AB InBev has informed SABMiller it intends to make a proposal to acquire the company. No such proposal has yet been received, adds the statement from SABMiller.
The statement was made in response to media speculation of a takeover.
AB InBev confirms it has made an approach to SAB Miller’s board of directors, intending to work with them towards a transaction.
It says there is no certainty of an offer or agreement, and will make further statements as appropriate.
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