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AB InBev, SABMiller Agree To Mega Merger; Will Create World's Biggest Beer Company

The Huffington Post The Huffington Post 13/10/2015 Jade Walker
ATHENA IMAGE © Andrew Burton via Getty Images ATHENA IMAGE

BRUSSELS (AP) — Belgian-Brazilian AB InBev have announced an agreement in principle with SABMiller to take over the brewer at 44 pounds ($67.63) a share to create the world's biggest beer giant.

The brewer of Budweiser and Stella Artois said Tuesday it had increased its offer overnight for the world's second-largest brewer and that both boards "reached agreement in principle on the key terms of a possible recommended offer."

AB InBev has been trying for nearly a month to get its hands on SABMiller but its previous offers have met with resistance. On Monday, it was hoping that its latest offer, which valued SABMiller at 43.50 pounds a share — 14 percent higher than its initial offer — would finally win the day but it still upped its offer.

 

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