13th Oct 2015 06:19
LONDON (Alliance News) - Anheuser-Busch InBev and SABMiller on Tuesday said they have agreed a GBP71.28 billion deal over a possible merger, with a takeover set to create a global beer giant.
AB InBev lifted its offer to GBP44 per share, and SABMiller said it will be willing to recommend a bid at that price to its shareholders.
In addition, SABMiller shareholders will be entitled to any dividends declared or paid in the period to September 30 or March 31 ahead of completion of a possible deal.
The previous offer valued SABMiller at GBP43.50 per share.
A partial share alternative would be put in place for about 41% of SABMiller's shares.
The all-cash offer represents a premium of about 50% to SABMiller's closing price of GBP29.34 on September 14, before AB InBev's first approach.
No formal offer has been made. AB InBev now has until 1700 BST on October 28 to decide whether to make an firm offer or walk away.
By Samuel Agini; [email protected]; @samuelagini
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