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UPDATE 2-SABMiller backs AB InBev offer for biggest-ever consumer merger

Fri, 29th Jul 2016 16:16

(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)

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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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