• AB InBev follows two private bids with formal offer to SABMiller's shareholders
  • GBP42.15-per-share price values SAB at about US$103.53bn
  • Partial share alternative offered to SAB's two largest shareholders
  • SAB declines to immediately comment
  • BREAKING - SABMiller poised to reject proposal
Anheuser-Busch InBev has made its offer to acquire SABMiller

Anheuser-Busch InBev has made its offer to acquire SABMiller

Anheuser-Busch InBev has tabled a formal offer for SABMiller of GBP42.15 per share.

The offer, which values SABMiller at GBP68.2bn (US$103.5bn), follows two earlier proposals at GBP38 and GBP40 per share, AB InBev said this morning. The brewer added in its statement that it "is disappointed that the board of SABMiller has rejected both of these prior approaches without any meaningful engagement".

The move is a direct appeal to SAB's shareholders, with specific mention made by AB InBev of Altria and BevCo, who own a combined stake of 41% of the UK-headquartered company. AB InBev has also made a "partial share alternative" offer to the two shareholders, with Altria - which holds about 27% of SAB - signalling its support for AB InBev's proposal.

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

"We have the highest respect for SABMiller ... and believe that a combination of our two great companies would build the first truly global beer company," said AB InBev CEO Carlos Brito. "We believe we can achieve more together than each of us could separately, bringing more beers to more people and enhancing value for all of our stakeholders."

When contacted by just-drinks, a spokesperson for SAB decline to comment on AB InBev's announcement, adding that a statement would be issued later today.

To read AB InBev's official statement, click here.