Investors are getting increasingly nervous that talks about a massive ‘Bud-Miller’ beer merger will end in failure.
Shares in SABMiller fell by about 3% in London after Bloomberg reported that the brewer had turned down an initial takeover offer from its largest rival, Anheuser-Busch InBev. The report cited unnamed sources.
Based on UK rules, AB InBev will have to come forward with a formal bid by October 14, or abandon its approach.
If the deal happens, it would be the biggest merger in brewing history, and could rank among the top 10 takeovers of all time, according to Dealogic and EY.
Bloomberg reported that AB InBev was discussing a bid worth just over £40 per share, but SABMiller insisted that a deal closer to £45 per share would be more suitable.
Full content: New York Post
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