An offer could be made as early as today (Monday 28), said the Sunday Times, reporting that the two brewing giants have begun ‘friendly talks’.
Earlier this month AB InBev and SABMiller confirmed a tie-up is being explored, with AB InBev informing SABMiller it intends to make a proposal to acquire the company. No offer has yet been received.
AB InBev has until 5pm on October 14 to announce its firm intention to make an offer; or say it does not intend to make an offer, as according to the City Code on Takeovers and Mergers.
AB InBev is the largest brewer in the world. Its biggest brands include Budweiser, Beck’s and Stella Artois.
SABMiller, a beer and soft drinks company, is the world’s second largest brewer with Peroni, Grolsch and Foster’s among the brands in its portfolio.
A combined entity would control 30% of global beer volumes, including 400 brands. It would also own 18 of the world’s 40 most popular beer brands (by volume).