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SABMiller board backs AB InBev offer after China gives deal final clearance

Fri, 29th Jul 2016 13:52

(ShareCast News) - Belgian brewer Anheuser-Busch InBev's improved takeover offer of SABMiller has been back by the FTSE 100 company's board after it was given clearance by China's Ministry of Commerce.Later on Friday, director said they were unanimously recommending the 4,500p-a-share offer from AB-Inbev, despite several major shareholder having raised objections.SABMiller will also propose that its two biggest shareholders, Altria Group and Bevco, be treated as a separate class of shareholders and therefore allow other SABMiller investors to vote on the new offer separately, the company said in a statement.Chinese approval follows SABMiller's agreement back in March to sell its 49% stake in Chinese beer Snow to China Resources Beer Co."Following previously announced clearances in the EU, South Africa and the United States, all of the pre-conditions to the proposed combination have now been satisfied," SAB said on Friday morning.Earlier this week, AB InBev sweetened its offer for SAB to 4,500p a share from 4,400p a share, to account for sterling's weakness against the US dollar following the UK's decision to leave the European Union.Still, major shareholders Aberdeen Asset Management said the offer remained "unacceptable" due to the partial share alternative being offered to Altria and Bevco.At 1400 BST, SABMiller shares were up 1.8% to 4,403p.
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13 Dec 2016 10:51

UPDATE 3-Asahi to buy East European beer brands from AB InBev for $7.8 bln

* Asahi to buy brands for $7.8 billion * Expects to close deal in first half of 2017 * Asahi shares close down 4.6 pct on funding questions (Adds valuation estimates, background) By Thomas Wilson and Martinne Geller TOKYO/LONDON, Dec 13 (Reuters) - Asahi Group Holdings

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5 Oct 2016 05:21

PRESS: Asahi To Make Bid For SABMiller Eastern Europe Units

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4 Oct 2016 11:47

SABMiller Says UK Court Sanctions Scheme For AB InBev Merger

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28 Sep 2016 11:57

Dissident SABMiller shareholder Aberdeen disappointed with vote

LONDON, Sept 28 (Reuters) - Aberdeen Asset Management , an SABMiller shareholder that opposed the brewer's takeover by Anheuser Busch InBev, said it was "obviously disappointed by not surprised by" the resounding approval shareholders of SABMiller gave the deal. SAB shareholders overwhelmin

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28 Sep 2016 10:20

UPDATE 1-SABMiller shareholders comfortably back AB InBev takeover offer

(Updates after SABMiller shareholder vote) * Deal seen closing on Oct 10 * AB InBev to retain name after takeover * Deal adds Africa, Latin American markets to AB InBev LONDON, Sept 28 (Reuters) - SABMiller shareholders backed the brewer's $100-billion-plus takeover by riv

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28 Sep 2016 10:18

AB Inbev and SABMiller shareholders approve takeover deal

(ShareCast News) - SABMiller shareholders on Wednesday approved a $100bn takeover offer by Anheuser-Busch InBev. More than 95% of shareholders at SABMiller gave the green light to the £45 per share deal after stakeholders at Anheuser-Busch InBev also voted in favour of the takeover. SABMiller's tw

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28 Sep 2016 09:42

SABMiller shareholders approve AB InBev takeover

LONDON, Sept 28 (Reuters) - SABMiller shareholders approved the brewer's takeover by rival Anheuser-Busch InBev on Wednesday, paving the way for one of the biggest proposed mergers in history. The 79 billion pound ($103 billion) deal was approved by more than 95 percent of SAB shareholders

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28 Sep 2016 08:53

AB InBev to retain its name after SABMiller takeover

BRUSSELS, Sept 28 (Reuters) - Anheuser-Busch InBev said on Wednesday that it would retain its existing name after a planned $100-billion-plus takeover of rival SABMiller. SABMiller shareholders will vote on Wednesday on whether to accept AB InBev's 45 pound-per-share offer for the world's

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28 Sep 2016 08:53

ABInBev shareholders approve deal to buy SABMiller

Sept 28 (Reuters) - Anheuser-Busch InBev said on Wednesday that its shareholders approved its $100-billion-plus takeover of rival brewer SABMiller. SABMiller shareholders will vote on Wednesday on whether to accept AB InBev's 45 pound-per-share offer for the world's second-largest brewer, a

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22 Sep 2016 07:51

Thursday newspaper round-up: SME confidence, ECB, insurers, SAB

(ShareCast News) - Confidence among small businesses is at a four-year low because of concerns among companies that the economy will weaken as Britain prepares to leave the European Union. A survey by the Federation of Small Businesses has revealed that confidence has fallen for the third consecutiv

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21 Sep 2016 06:26

MEDIA-SABMiller's central European assets attract Asian, European bidders -Hospodarske Noviny

PRAGUE, Sept 21 (Reuters) - * SABMiller's central European assets, including Czech beer maker Pilsner Urquell, have attracted investors from China, Japan and Europe, the Hospodarske Noviny daily paper said on Wednesday. * The paper lists China Resources Beer Holding, Japan's Asahi and Ki

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15 Sep 2016 16:08

Heineken to bring more premium brands into South Africa

MIDVAAL, South Africa, Sept 15 (Reuters) - Heineken plans to bring more of its premium brands into South Africa following its recent introduction of Sol Mexican lager which it hopes will increase its market share. Following 11 years of cooperation, Heineken dissolved its joint venture with

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15 Sep 2016 10:10

Shareholder adviser Glass Lewis backs AB InBev takeover of SABMiller

LONDON, Sept 15 (Reuters) - Investor advisory firm Glass Lewis has recommended SABMiller shareholders vote in favor of its takeover by Anheuser-Busch InBev, adding to the likelihood of the $100 billion-plus beer mega-merger getting done. One of the biggest deals in corporate history, which

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30 Aug 2016 14:32

AB InBev lauds SAB's partnership with Castel Group

LONDON, Aug 30 (Reuters) - Brewer Anheuser-Busch InBev said on Tuesday that following its takeover of rival SABMiller it plans to continue developing SAB's partnership with France's Castel Group. "It's a very important relationship that we intend to continue to develop and evolve," AB InBe

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26 Aug 2016 12:10

Bumper US$2bn payday for advisers on SABMiller deal

By Steve Slater LONDON, Aug 26 (IFR) - Brewers Anheuser-Busch InBev and SABMiller will pay almost US$2bn in fees to banks, lawyers, PR firms and others advisers to complete the largest ever consumer products takeover. Shareholder documents released on Friday showed the US$104bn takeov

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