Anheuser-Busch InBev has made an approach to take over fellow brewing giant SABMiller.
If a deal goes ahead, it will create a $ 245 billion global giant in the beer market and trigger a worldwide anti-trust review, the Wall Street Journal reported.
AB InBev, the world’s largest brewer based on sales, confirmed the approach and said it intends to work with SABMiller’s board of directors toward a transaction.
“There can be no certainty that this approach will result in an offer or agreement, or as to the terms of any such agreement,” the firm said in a statement. “A further statement will be made as appropriate.”
In a statement in response to press speculation Wednesday, SABMiller, whose headquarters are in London, said no proposal has been received and the board has no further details about any terms.
It said AB InBev must announce a firm intention by Oct. 14.
SABMiller said shareholders are strongly advised to retain their shares and to take no action in the interim, as there is no certainty that an offer will be made.
Following its statement, shares in SAB Miller rose 20% to $ 56 while AB InBev shares rose over 7%, before trading was suspended.
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