AB InBev makes third offer to purchase SABMiller
In an effort to combine the world's two largest brewers, Anheuser-Busch InBev NV is trying to buy its nearest competitor, SABMiller Plc, in what would be a record industry deal. The current and also third offer on the table is $104 billion; SABMiller having declined the first two.
- Read an article published earlier this year about the sudden and unexpected resignation of SABMiller's CFO, Jamie Wilson. Click here to read.
AB InBev only has until 15 October to make a formal offer, or it must walk away, according to UK takeover law. If the company fails to bid, it cannot renew its takeover attempts for the next six months.
The SABMiller board is reviewing AB InBev's latest offer, though this is only fractionally higher than its previous proposal. SABMiller spurned the two prior offers made privately, which were £38 pounds per share and £40 per share.
SABMiller Chairman, Jan du Plessis, said in a statement:
"AB InBev needs SABMiller but has made opportunistic and highly conditional proposals, elements of which have been deliberately designed to be unattractive to many of our shareholders. AB InBev is very substantially undervaluing SABMiller."