AB InBev CEO Carlos Brito has appealed to SABMillers shareholders

AB InBev CEO Carlos Brito has appealed to SABMiller's shareholders

Anheuser-Busch InBev's CEO has called on SABMiller's shareholders to back his takeover offer, saying its rejection by management yesterday “lacks credibility”.

In his first response since SAB turned down a formal GBP42.15 per share bid, Carlos Brito said the UK-headquartered brewer had “refused to meaningfully engage with us”. He also questioned how long it would be before SABMiller's share price topped GBP42 in the absence of an A-B InBev offer.

“If shareholders agree that we should be in proper discussions, they should voice their views and should not allow the board of SABMiller to frustrate this process and let this opportunity slip away,” Brito said.

The call to arms included a riposte to SABMiller's claim that the offer is undervalued, which A-B InBev said “lacks credibility”. As well as being a 44% premium on SABMiller's share price before takeover speculation started, A-B InBev said, the offer is also “publicly supported” by one of the company's biggest shareholders, Altria.

For just-drinks' full coverage of AB InBev's move for SABMiller, click here