SABMiller agrees $107 billion deal with AB InBev
The deal will create a brewing colossus making about a third of all beer drunk.
LONDON - Anheuser-Busch InBev has announced that it has reached a deal to buy SABMiller for £44 per share.
Last week, SABMiller extended the deadline for rival AB InBev to make a formal $100 billion-plus takeover offer by a further week in order to finalise shareholder support for the deal.
The two companies said in a joint statement last week that London's Panel on Takeovers and Mergers had granted SABMiller's request to push back the deadline to 11 November.
The Takeover Panel had already granted a series of extensions since AB InBev and SABMiller said they had reached a preliminary agreement on a takeover on 13 October.
The two companies said last week that they had made good progress in agreeing terms and AB InBev had entered into the funding facilities, but still needed a further week to finalise discussions and satisfy pre-conditions.
AB InBev is offering £44 per SABMiller share, along with a discounted alternative mostly of shares and designed for SABMiller's two largest shareholders, cigarette-maker Altria and BevCo, the vehicle of Colombia's Santo Domingo family, who together own 40.5 percent of the target company.
The takeover currently worth $107 billion would create a brewing colossus making about a third of all beer drunk and would be the largest of a British-based company and the fourth-biggest overall in corporate history.