28th Oct 2015 07:06
LONDON (Alliance News) - Anheuser-Busch InBev NV and SABMiller PLC on Wednesday said the deadline for the two to agree their mega-merger has been extended, following press reports on Tuesday that the process of agreeing the deal was taking longer than anticipated.
Belgium-based AB InBev has offered 4,400 pence per share for Anglo-South African rival SABMiller, valuing the company at GBP71.28 billion. If the deal goes ahead, it will be one of the largest merger and acquisitions of all time and will create a company with a market capitalisation of around USD280.0 billion. AB InBev and SABMiller currently are the world's largest and second largest brewers in the world, respectively.
SABMiller said in a statement on Wednesday that the deadline for AB InBev to make an offer for the company has been extended to November 4, having been due to expire on Wednesday.
The Financial Times reported on Wednesday that the pair are considering selling off assets in the US in order to secure regulatory approval for the merger, including SABMiller's stake in the MillerCoors joint venture with Molson Coors. SABMiller holds a 58% stake in the joint venture, which could fetch up to USD10.00 billion, according to people briefed on the matter.
By Sam Unsted; [email protected]; @SamUAtAlliance
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