Deal in disarray as SABMiller halts AB InBev integration
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London
AB INBEV'S US$103.6 billion takeover bid for SABMiller Plc was thrown into disarray after the target company suspended integration of the two brewers following a rebellion from shareholders who say they haven't been compensated enough for the pound's recent plunge.
SABMiller managers asked employees to halt work knitting together the two companies, with chief executive officer Alan Clark saying in an internal memo that "there should be no contact with AB InBev with immediate effect". Advisers continue to work on the transaction, and SABMiller's board hasn't decided to walk away from the deal as it reviews an improved offer from AB InBev, people familiar with the matter said.
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