This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.bbc.co.uk/news/business-34505589
The article has changed 4 times. There is an RSS feed of changes available.
Version 0 | Version 1 |
---|---|
AB InBev makes higher offer for SABMiller | AB InBev makes higher offer for SABMiller |
(35 minutes later) | |
Anheuser-Busch InBev has increased its offer for rival brewer SABMiller to £43.50 a share. | Anheuser-Busch InBev has increased its offer for rival brewer SABMiller to £43.50 a share. |
The £70bn ($108bn) is 3.2% higher than the previous bid and 14% higher than its initial offer last month. | |
It is the third time that InBev has made a higher bid for the company, with previous offers at £38, £40 and £42.15 per share. | |
Shares in SABMiller rose 0.7% to £36.93 in London following the latest bid, valuing the company at £60.1bn. | |
SABMiller has rejected the previous offers, claiming that they "very substantially" undervalued the company. | |
InBev has accused SABMiller's board of being unwilling to enter talks about a deal. | |
Last week Carlos Brito, chief executive of InBev, said its proposal "creates significant value for everybody. How long will it be before shareholders see a value of over £42 in the absence of an offer from AB InBev?" | |
Under UK takeover rules, InBev has until 16:00 GMT on Wednesday to make a formal bid for the maker of brands including Peroni and Grolsch or walk away for six months. | |
InBev brews beers such as Budweiser, Stella Artois and Corona among others. | |
If a deal is struck, it would create the world's biggest brewer and be the UK's biggest corporate takeover. | |
SAB has several large shareholders, which have so far sided with the London-listed company and said the offers undervalue it. | |
South Africa's Public Investment Corporation, the fourth-largest shareholder in SAB, said on Friday that the price was too low. | |
A deal will not succeed without the support of tobacco company Altria, which has a 27% holding, and Colombia's Santo Domingo family, which owns 14% of the shares. | |
SABMiller tried but failed to acquire Dutch rival Heineken a year ago. |