12th Oct 2015 05:33
LOEWEN (Alliance News) - The fourth-largest shareholder in British brewer SABMiller PLC is pushing for Belgian brewer Anheuser-Busch InBev NV, known as AB InBev, to improve its about GBP65 billion offer, less than 72 hours ahead of a bid deadline imposed by UK regulators, the financial times reported on Sunday.
A senior official at South Africa's state-owned Public Investment Corporation reportedly said that key among its concerns was clarification of a proposed listing of a combined brewer on the Johannesburg Stock Exchange.
The comments from Public Investment Corporation highlight a split among investors just days before expiry on Wednesday by which, under Takeover Panel rules, AB InBev must make a formal offer or walk away for six months.
Last week, British brewer SABMiller said its board rejected the revised offer from AB InBev, stating it still very substantially undervalues SABMiller, its unique and unmatched footprint, and its standalone prospects.
AB InBev boosted its offer to acquire SABMiller to GBP42.15 per share in cash, with a partial share alternative available for about 41% of the SABMiller shares.
AB InBev had previously made two offers - of GBP38.00 per share in cash and GBP40.00 per share in cash - that were rejected by the brewer of Peroni and Foster's beer.
AB InBev had confirmed that it did not have the support of BevCo Ltd. for the proposed combination with SABMiller. Altria Group, Inc., SABMiller's largest shareholder, supported the revised offer. Altria and BevCo Ltd. together hold about 41% of SABMiller shares.
Copyright RTT News/dpa-AFX
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