UK: Reports and shares frenzy after AB offer
SABMiller is reviewing its hostile takeover bid for Harbin Brewery following Anheuser-Busch's improved bid earlier today, according to press reports. The brewer is considering raising its US$550m offer for Harbin in response to a counter-offer by AB, the Financial Times reported on its website today.
The report, citing unnamed sources, said SABMiller executives held meetings on Tuesday to consider their response to Anheuser's US$717m bid for Harbin's remaining shares.
The report said that SABMiller declined to comment, but a source close to the situation had earlier told Reuters that the company would decide on its next move in two or three days.
In another news report, from AFX-Asia, Harbin's board is said to have recommended shareholders accept the Anheuser-Busch offer and reject SABMiller's hostile takeover bid.
Shares in Harbin jumped nearly 16% in pre-open trade today following the announcement of AB's bid. Harbin shares were indicated to open up 15.69% at a record HK$5.90.
Harbin shares have rocketed by 58% since early last month, when SABMiller and AB first squared up to each other over the Chinese brewer.
The global roll-out of InBev's Brazilian beer, Brahma, adds a third premium brand to the global brewer's international portfolio but some observers have suggested it's an unnecessary step which threat...
The US brewer Anheuser-Busch said today that it had seen its earnings per share fall 3% in the first quarter of the year, compared to the same period last year as it was hit by difficult trading condi...
Patrick Stokes, president and chief executive officer of Anheuser-Busch Companies, has said that the company's board of directors has declared a regular quarterly dividend....
Berkshire Hathaway Inc., the holding company of billionaire Warren Buffett, has acquired a significant stake in Anheuser-Busch....
Anheuser-Busch has threatened to stop buying rice from Missouri if the state allows genetically modified, drug-making crops to grow within its borders....
China Resources Snow Breweries Limited (CR Snow) has entered into an agreement with the Fuyang City government to acquire the assets of the Fuyang City Snowland Brewery Company in Anhui province for U...
Anheuser-Busch has increased its economic interest in China's Tsingtao to 27% upon its conversion of all the remaining convertible bonds in Tsingtao....
Anheuser-Busch has revealed plans to launch a new variant in its Bacardi Silver range....
- Pernod's mood darkens over India - Analysis
- Why Scotch must drop the 'malts good, blends bad'
- Does alcohol accelerate the onset of dementia?
- Have spirits companies forgotten the mainstream?
- Ashwagandha - The next functional drinks trend?
- Diageo to cut 105 jobs in Scotland, 50 in Italy
- Pernod Ricard YTD fiscal-2017 sales performance
- Distell acquires majority stake in Cruz Vodka
- Scotch sales set to soar, despite recent struggles
- Cognac needs innovation at bottom end - Pernod
- Global Scotch insights - market forecasts, product innovation and consumer trends
- Global Champagne and sparkling wine insights - market forecasts, product innovation and consumer trends
- Battle of the Generations - The fight for iGen, Millennial, Gen X and Baby Boomer consumers
- Myanmar - ISA Country Report
- Flavoured Powder Drinks in 2017: Confronting an Ageing World