UK brewer SABMiller rejects InBev takeover bid: report
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
[LONDON] British brewing company SABMiller has rejected an informal takeover offer from Belgian-Brazilian giant AB InBev, the world's biggest brewer, Bloomberg News said Tuesday.
SABMiller has snubbed the bid, worth £66.4 billion (S$144 billion), arguing it was too low, the agency reported citing people familiar with the matter.
The initial offer was worth just over £40 per share, but some shareholders wanted closer to £45, according to Bloomberg.
In reaction, SABMiller's share price sank 3.02 per cent to 3,650.50 pence in morning deals on London's FTSE 100 index, which was 0.06 per cent lower at 6,295.29 points.
A potential deal would bring together AB InBev's Budweiser, Corona and Stella Artois beers with SABMiller's Foster's, Grolsch and Pilsner Urquell.
AFP
Share with us your feedback on BT's products and services
TRENDING NOW
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
Eurokars Group introduces rental car franchises Enterprise Rent-A-Car, National Car Rental, and Alamo to Singapore
20 photos that show how dramatically Singapore has changed in two decades
Singapore’s key exports up 15.3% in March from electronics surge, exceeding forecasts
