16th Sep 2015 09:37
LONDON (Alliance News) - SABMiller PLC Wednesday said that rival drinks company Anheuser-Busch InBev intends to make a proposal to acquire the business, with the latter then confirming it has made an approach later in the morning.
The FTSE 100-listed brewer and soft drinks company, which makes Grolsch, Peroni and Coors beers, is the world's second-largest brewer behind Belgium-based AB InBev. AB InBev has around 200 brands in its portfolio, including Budweiser, Corona and Stella Artois.
In a separate statement on Wednesday, AB InBev confirmed that it has made an approach to SABMiller regarding a combination of the two companies.
Last year, Dutch brewer Heineken NV rejected a takeover approach from SABMiller, leading to speculation that the Anglo-South African company's failure to boost its size may make it a target for AB InBev.
"The board of SABMiller will review and respond as appropriate to any proposal which might be made. There can be no certainty that an offer will be made or as to the terms on which any offer might be made," SABMiller said in a statement.
Shares in SABMiller were trading up 23% at 3,700.00 pence following the announcement, the best performer in the FTSE 100 by a distance.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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