The US's fourth largest beer marketer has put itself up for auction, according to newspaper reports. Pabst Brewing Co. was yesterday reported to have hired Merrill Lynch to organise an auction for a possible sale of the company.

Merrill Lynch has started sending out offering memorandums to potential buyers, the newspaper continued. Texas-based Pabst, which doesn't brew its beer but contracts out the job to Miller Brewing Co., is expected to fetch between US$350m and US$400m.

The New York Post reported that telephone calls for comment from Pabst were not returned.