AB InBev ups the ante to US$104B, but SABMiller rebuffs yet another offer
InBev forced to put plans to create first "truly global" brewer on hold again
BRUSSELS—In a renewed effort to create a global brewing giant, Anheuser-Busch InBev announced early Oct. 7 it would offer SAB Miller PLC approximately $104 billion in cash to acquire the company.
InBev said it believed the deal “should be highly attractive to SABMiller shareholders and provides an extremely compelling opportunity for them.”
“We have the highest respect for SABMiller, its employees and its leadership, and believe that a combination of our two great companies would build the first truly global beer company,” Carlos Brito, CEO of InBev, said.
“By bringing together our rich heritage, brands and people we would provide more opportunities for consumers to taste and enjoy the world’s best beers,” he added.
Nonetheless, the SAB board quickly dismissed the new offer.
“[The proposal] still very substantially undervalues SABMiller, its unique and unmatched footprint, and its standalone prospects,” the company said.
InBev has made two other attempts in recent months to buy the diversified, London-based brewer, but has been rebuffed each time.