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UPDATE 1-AB InBev and SABMiller expect megabrew merger to complete Oct. 10

Mon, 01st Aug 2016 18:30

* UK court hearing on voting system Aug. 22

* Deal completion expected Oct. 10, trading on Oct. 11 (Adds detail on timetable)

BRUSSELS, Aug 1 (Reuters) - Anheuser-Busch InBev and SABMiller, the world's two largest brewers, set outa timetable on Monday for the final stages of their $100billion-plus merger, with completion of the deal expected in alittle more than two months.

SABMiller's board agreed last week to an improved 79 billionpound ($104.3 billion) offer from AB InBev, which said it wouldnow publish the takeover terms on Tuesday.

A key step in the process is an Aug. 22 British courthearing to assess SABMiller's proposal that its shareholdersshould be divided into two classes, with each needing to approvethe terms.

AB InBev has put forward two variations of its offer: astraight 45 pounds per share intended for the majority ofinvestors and a cash-and-shares offer aimed at SABMiller's twolargest shareholders, Altria and the Santo Domingo familyof Colombia. The two own 41 percent of SABMiller.

The combination is contentious because the cash-and-shareoffer is now worth more than the cash bid, though the new shareswould have to be held for five years.

By splitting the vote, the deal would need backing from upto 85 percent of the shares rather than the 75 percent needed ina unified vote. Altria and Bevco, the Santo Domingo investmentvehicle, have already signalled their support.

AB InBev and SABMiller shareholder meetings are scheduledfor Sept. 28, with completion of the deal expected on Oct. 10and trading of the yet to be named combined group slated forOct. 11.

The timetable comes after a hectic Friday in which Chinafirst gave conditional approval for the merger. The SABMiller board also recommended acceptance, though it did say the dealwas at the lower end of an acceptable range.

The deal, the largest ever in the consumer industry, wouldcombine AB InBev's Budweiser, Stella Artois and Corona withSABMiller's Castle Lager and take it into fast-growing Africanand new Latin American markets.($1 = 0.7575 pounds)

(Reporting by Philip Blenkinsop in Brussels and Pranav Kiran inBengaluru; Editing by Don Sebastian and David Goodman)

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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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