(Adds more details, background)
By Martinne Geller
LONDON, July 29 (Reuters) - The board of brewer SABMiller will recommend its shareholders approve a sweetenedtakeover offer by Anheuser Busch InBev, the companysaid on Friday, capping a week of high drama about the fate ofthe consumer industry's biggest-ever merger.
The deal, worth 79 billion pounds ($104.89 billion), remainsto be voted on by shareholders. One prominent investor earlierin the week voiced opposition to the revised offer, saying itstill undervalued the maker of beers including Castle Lager andPilsner Urquell.
AB InBev added a pound-per-share to its cash offer onTuesday to quash investor dissent over a deal that would also beBritain's biggest ever, but has been made less attractive by afall in the sterling following Britain's vote in June to leavethe European Union. It has also raised its share-and-cashalternative by 88 pence.
"The board's decision was difficult given changes incircumstances since the board originally recommended £44 pershare in cash last November," said SAB Chairman Jan du Plessis."We believe the final cash consideration of £45 per share to beat the lower end of the range of values consideredrecommendable."
"In reaching its decision, SAB's board considered the bestinterests of the company as a whole, taking into account allsalient facts and circumstances," du Plessis said, adding thatit had received extensive shareholder feedback.
The board said it plans to ask the UK court overseeing theprocess to treat its two largest shareholders Altria andBevco as a separate class of shareholders. Under that scenario,three-quarters of both classes would need to approve the dealfor it to pass.
AB InBev responded by saying it believes the proposedcombination "represents a compelling opportunity for allSABMiller and AB InBev shareholders".($1 = 0.7532 pounds) (Reporting by Martinne Geller in London; Editing by ElaineHardcastle and David Stamp)