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AB InBev, SABMiller in USD 104bn deal to create brewing giant

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London-listed brewer of Peroni and Grolsch, SABMiller has agreed to sell itself to Anheuser-Busch InBev forUSD104bn (£68bn), in a deal that is regarded as the biggest ever takeover of a British company.
The takeover will create a brewing empire that will make about one-third of the world’s beer.
The boards of the two companies said they had reached agreement “in principle” on the key terms of a “possible recommended offer.”
London-listed SABMiller said AB InBev – which brews Budweiser and Stella Artois — is proposing an offer of £44 a share in cash, with a partial share alternative structure for 41% of the company owned by SABMiller’s two biggest shareholders.
The cash offer values the maker of Peroni and Grolsch at about 50% more than its value on 14 September, before news of AB InBev’s interest leaked.
AB InBev had until 5pm on 14 October to lodge a formal bid after having five previous proposals turned down. SABMiller has asked the takeover panel for an extension to that deadline so the two sides can work out details.

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