UK brewer SABMiller rejects InBev takeover bid

GMT 17:19 2015 Tuesday ,06 October

Arab Today, arab today UK brewer SABMiller rejects InBev takeover bid

British brewing company SABMiller
London - AFP

British brewing company SABMiller (Xetra: BRW1.DE - news) has rejected an informal takeover offer from Belgian-Brazilian giant AB InBev, the world's biggest brewer, Bloomberg News said Tuesday.

SABMiller has snubbed the bid, worth £66.4 billion ($101 billion, 90 billion euros), arguing it was too low, the agency reported citing people familiar with the matter.

The initial offer was worth just over £40 per share, but some shareholders wanted closer to £45, according to Bloomberg.

In reaction, SABMiller's share price sank 3.02 percent to 3,650.50 pence in morning deals on London's FTSE 100 index, which was 0.06 percent lower at 6,295.29 points.

A potential deal would bring together AB InBev's Budweiser, Corona and Stella Artois beers with SABMiller's Foster's, Grolsch and Pilsner Urquell.

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