Home / Business / Money / AB InBev sets its sights on SABMiller

AB InBev sets its sights on SABMiller

Sep 16, 2015, 05.41 PM | Source: CNBC

In a statement made in response to recent press speculation, SABMiller said that no proposal had yet been received from AB InBev and that it would respond as appropriate once an approach had been made.

Like this story, share it with millions of investors on M3

AB InBev sets its sights on SABMiller

In a statement made in response to recent press speculation, SABMiller said that no proposal had yet been received from AB InBev and that it would respond as appropriate once an approach had been made.

AB InBev sets its sights on SABMiller

SABMiller has confirmed that Belgian brewing giant Anheuser-Busch InBev has informed the UK-listed company that it intends to acquire it.

In a statement made in response to recent press speculation, SABMiller said that no proposal had yet been received from AB InBev and that it would respond as appropriate once an approach had been made.

SABMiller, the world’s number two brewer in terms of sales with brands including Peroni, Grolsch and Pilsner Urquell, , shares in London rose 23 percent on the news, with AB InBev’s stock up 7.4 percent. News of the deal also bolstered Europe’s brewing sector with Heineken and Carlsberg shares both up 5 percent.

Following SABMiller’s announcement, AB InBev confirmed that it had made an approach to SABMiller’s board regarding a combination of the two companies, adding that it was its intention to work with the UK group’s Board toward “a recommended transaction”.

A combined ABInBev/SABMiller would have a market value of around USD 270 billion, based on current prices, Reuters reported.

Any deal would also mean a broader geographical reach into fast-growing emerging markets: AB InBev’s has a strong presence in Latin America while SABMiller sells across Africa.

RELATED NEWS

  • Kotak Mahindra Bank can head towards Rs 585-590: AB Money
  • Stocks in news: Tech Mah, AB Nuvo, Jet Airways, Mercator
READ MORE ON  SABMiller, Heineken, Anheuser-Busch, Grolsch
Previous Buy OFSS; target of Rs 4,620: Systematix
Next See FY17 revenue from Sephora at Rs 150-250 cr: Arvind

  • Contrarian CEOs tell the Fed: Go ahead, raise my rates

  • BSE, NSE approve Vedanta-Cairn India merger

  • Worst over in financials; like pharma, infra: Prabhudas

  • Prabhudas CEO sees relief rally even if Fed hikes

  • Mkt may fall once more, worry about capex: Dimensions

  • Mkts will rally before earnings turn around: HSBC AMC CIO

  • Stocks in news: Sun Pharma, DLF, Orchid Chem, Cairn, Natco

  • Robert Shiller: This is the sign we’re in a bubble

  • Bull’s Eye: Buy HDIL, PFC, Bata, sell UPL, Hind Zinc, SKS

  • A buyer’s market for investors; like auto ancillaries: IIFL

  • Government closes Ford investigation after recall

  • Orchid Chemicals in talks with banks for debt rejig

  • Ola to invest Rs 150 crore in Andhra Pradesh

  • Won’t react to rivals’ rate cuts till funds cost dips: Axis

  • Suzuki says to buy back Volkswagen stake for up to $ 3.9 bn

  • Serco finally sells BPO division to Blackstone

  • Govt launches ‘rurban’ mission, ups MGNREGA days to 150

  • MMTC to help Goa mine operators sell iron ore in global mkt

video of the day

Mkts will rally before earnings turn around: HSBC AMC CIO

news videos

  • Rate hike: UBS says Fed should ‘do it fast and do it now’

  • Nifty to take US Fed rate hike in its stride: Edelweiss

  • Global commodity prices weighing on exports, says FIEO CEO

  • Stalled rail projects reviving; focus to be on EPC: Texmaco

Leave a Reply

Scroll To Top