AB InBev to bid for competitor SABMiller

AB InBev to bid for competitor SABMiller

AB InBev, the world’s largest brewer, is preparing a bid for its main competitor, SABMiller, according to an announcement made by SABMiller on Wednesday. The information was confirmed shortly afterwards by AB InBev.

After recent rumours in the press “the board of directors of SABMiller confirms that AB InBev has informed SABMiller of its intention to make an offer to acquire SABMiller”,  says the latter in a statement, adding that no proposal has been received as yet and that the board of SABMiller “has no further details” on the terms of said offer.

For its part, AB InBev has also confirmed in a statement that they have approached their competitor and explained that their intention is “to work with the board of directors of SABMiller with a view to achieving a satisfactory deal”. The largest brewer in the world adds, nonetheless, that there is no certainty that this approach will lead to an offer or deal with its competitor.

Trading of AB InBev shares on the Brussels stock exchange was suspended at precisely 11:20 p.m. Before suspension, shares had shot up by over 7.4%.

(Source: Belga)

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