Pursuits
SABMiller Snubs AB InBev, Says $100 Billion Proposal Too Low
- Cash price of 42.15 pounds is `compelling,' AB InBev says
- Shareholder Altria supports proposal, urges prompt discussions
SABMiller Rejects AB InBev's Offer Again
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SABMiller Plc rejected Anheuser-Busch InBev NV’s 65.2-billion pound ($99.7 billion) takeover proposal as too low, putting it in conflict with its biggest shareholder, which urged the brewer to support the overture.
As with previous offers from the maker of Budweiser, this one had two tiers: AB InBev would pay 42.15 pounds a share in cash for a majority of the stock. The price is 44 percent above SABMiller’s closing level on Sept. 14, the day before renewed speculation about a deal. AB InBev proposes paying 37.49 pounds a share in cash and stock for the stakes held by SABMiller’s two biggest shareholders, the potential acquirer said.