AB InBev extends SABMiller offer by a week

Brussels

THE world's biggest brewer Anheuser-Busch InBev on Wednesday said it and takeover target, British rival SABMiller, had agreed to extend its massive offer by a week to allow for further discussions.

AB InBev, the giant behind top lager brands such as Beck's, Budweiser and Stella Artois, said that it had completed a review of the SABMiller business and confirmed the terms of its bid, worth more than US$120 billion when debt is included.

"In order to allow SABMiller and AB InBev to continue their discussions with respect to other aspects of the transaction . . . SABMiller has requested the (authorities) to extend the relevan…