SABMiller Rejects AB InBev’s Latest Approach
October 08
10:32
2015
The board of SABMiller has unanimously rejected a revised bid of £42.15 per share in cash from AB InBev on the grounds that it still very substantially undervalues SABMiller, its unique and unmatched footprint, and its standalone prospects. The offer values SABMiller at £68.24 billion ($104 billion).
This is the third proposal from AB InBev rejected by the SABMiller board.
A combination of the world’s two largest brewers would create a group with revenues of US$64 billion and EBITDA of US$24 billion.
AB InBev has until Wednesday 14 October, 2015, to make another offer for SABMiller or it will have to walk away for six months. This deadline will only be extended with the consent of SABMiller and the Takeover Panel.
