SABMiller agrees to £44 per share takeover bid from Anheuser-Busch InBev
13 October 2015
In an agreed deal, Anheuser-Busch InBev NV has offered to pay £44 ($68) per share to buy its smaller rival SABMiller, finally ending days of negotiations on price that first started with an offer of £38 per share.
The price represents a premium of around 50 per cent to SABMiller's closing price on 14 September when AB InBev's approach was first announced.
The deal also includes an option for investors to take shares.
AB InBev has also agreed to pay SABMiller a reverse break fee of $3 billion should the transaction fail due to regulatory hurdles or if AB InBev shareholders reject the deal.
Under UK takeover rules, Anheuser-Busch InBev has until Wednesday (14 October) to table a firm takeover bid or walk away for six months.
A-B InBev has already made three informal offers of £38, £40 and £42.15 per share - all of which were rejected by SABMiller's board, excluding the three directors nominated by cigarette maker Altria Group, SABMiller's largest shareholder with a 27 per cent stake.