The UK Takeover Panel agreed to extend the deadline for Anheuser-Busch InBev NV’s$104 billion takeover of SABMiller PLC to allow the companies time to finish complex paperwork and continue talks on the sale of SABMiller’s U.S. business.
AB InBev now has until 5 p.m. GMT on Nov. 11 to make a formal offer for its smaller rival. It will be the second extension the companies have requested since announcing an agreement in principle on Oct. 13.
The latest extension highlights the complexity of a deal that would create a beer giant with a 28.4% share of the global beer market, according to industry tracker Plato Logic.
Full content: The Wall Street Journal
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