An agreement was made ‘in principle’ last month, with AB InBev offering £44 per share in cash (with a partial share alternative).
A statement from the two companies – the two biggest brewers in the world - says that ‘good progress’ has been made in agreeing the terms of a possible offer. But it has requested more time from the UK’s regulators to finalise discussions.
By 5pm on Wednesday November 11, AB In Bev must announce its firm intention to make an offer for SABMiller, or say it does not intend to make an offer.
When AB InBev originally confirmed its approach to SABMiller on 16 September, it was given a deadline of October 14. With an agreement made in principle, the deadline was subsequently pushed back to October 28, then November 4, and now November 11.