7th Oct 2015 06:14
LONDON (Alliance News) - Anheuser-Busch InBev NV on Wednesday said it has tabled an offer to SABMiller PLC, having seen two other informal offers rejected, and said it thinks its new bid should be "highly attractive" to SABMiller shareholders.
The brewing giant said it has made a bid valuing SABMiller at 4,215 pence per share, valuing SABMiller at GBP68.2 billion overall. AB InBev said it has had two informal offers for SABMiller, of 3,800p and 4,000p, rejected. It said it was "disappointed" SABMiller's board had rejected the two previous approaches "without any meaningful engagement".
SABMiller shares closed Wednesday at 3,650.70p, down 3.0%.
AB InBev said the revised proposal should be highly attractive to SABMiller shareholders, representing a 44% premium to SABMiller's share price on September 14, when the talks between the two were first revealed following press reports that the world's two largest brewers could merge.
"AB InBev believes that the revised cash proposal of 4,215 pence per share is at a level that the board of SABMiller should recommend," AB InBev said.
By Sam Unsted; [email protected]; @SamUAtAlliance
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