FDBusiness.com

SABMiller Agrees to £68 Billion Takeover by AB InBev

 Breaking News
  • UK Grocery Prices Rising at Fastest Rate in Four Years The latest grocery market share figures from Kantar Worldpanel, for the 12 weeks to 5 November 2017, show UK supermarket sales have increased in value by 3.2% year-on-year in the run up to Christmas. Fraser McKevitt, head of retail and consumer insight at Kantar Worldpanel, explains: “Volume sales have increased by less than 1%, meaning it’s [...]...
  • Alcohol Minimum Unit Pricing to Go Ahead in Scotland The UK Supreme Court has ruled that minimum unit pricing for alcohol, which was passed overwhelmingly by the Scottish Parliament in 2012, can now proceed. Scottish Health Secretary Shona Robison has welcomed the decision and confirmed she intends to make a statement to Parliament shortly, setting out the Scottish Government’s next steps. Following the unequivocal backing [...]...
  • GEA Brings Together Technologies to Supply Extended Production Line For BMI GEA has recently been selected to supply an extended pasta filata cheese production line for BMI in Jessen, Germany. With this exemplary project GEA brings together its joint cheese-making expertise, resulting from its acquisition of de Klokslag and CMT in 2014 and 2015 respectively, with GEA’s flow and processing experience to provide a single offering for this [...]...
  • Bosch Packaging Technology Wins German Design Award 2018 The Sigpack VPF (Vertical Platform for Flat Pouches), the first freely scalable flat pouch machine from Bosch, has been honoured with the German Design Award 2018 in the Excellent Product Design category. The German Design Council presents the prestigious award on an annual basis. The German Design Award is the second prestigious accolade for the [...]...
  • Premier Foods Returns to Revenue Growth Premier Foods, the UK convenience food group, has reported group revenue of £353.3 million for the 26 weeks ended 30 September 2017 – an increase of 1.5% on the prior period – with Branded revenue in line with last year at £295.4 million while Non-branded revenue increased by 10.1% to £57.9 million. Group reported half year [...]...

SABMiller Agrees to £68 Billion Takeover by AB InBev

SABMiller Agrees to £68 Billion Takeover by AB InBev
October 13
09:58 2015

The board of SABMiller has accepted the key terms of a possible recommended offer to be made by AB InBev of £44.00 per share in cash, with a partial share alternative available for approximately 41% of the SABMiller shares. The cash and share offer is worth £68 billion ($104.4 billion), which would make the deal one of the top five mergers in corporate history and the largest takeover of a UK company.

The latest cash proposal represents a premium of over 50% to SABMiller’s closing share price of £29.34 on 14th September 2015 – the last business day prior to renewed speculation of an approach from AB InBev.

A successful acquisition by AB InBev would combine the world’s two largest brewers to create a group that would generate revenues of $64 billion and EBITDA of $24 billion. The combination of AB InBev and SABMiller would result in a truly global brewer that would take its place as one of the world’s leading consumer products companies. Given the largely complementary geographical footprints and brand portfolios of AB InBev and SABMiller, the combined group would have operations in virtually every major beer market, including key emerging regions with strong growth prospects such as Africa, Asia, and Central and South America.

ABInBevLogoAB InBev had four earlier proposals rejected by the SABMiller board – the first at £38.00 per share in cash, the second at £40.00 per share in cash, the third at £42.15 per share in cash and the fourth at £43.50 per share in cash.

AB InBev has agreed to pay SABMiller a $3 billion break fee in the event that the transaction fails to close as a result of the failure to obtain regulatory clearances or the approval of AB InBev shareholders.

At the request of the SABMiller board, the Panel on Takeovers and Mergers has agreed to extend the deadline for AB InBev to lodge a formal bid from 14 October to 5.00 pm on 28 October 2015, to enable the parties to continue their talks regarding the possible offer.

About Author

mike

mike

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • November 28, 2017Fi Europe
  • December 4, 2017Plastics and Paper in Contact with Foodstuffs 2017
  • January 8, 2018RAI Exhibition
  • January 16, 2018Sival Plant Production Trade Show
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber





Subscribe Here



Advertisements