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SabMiller Agrees to £70BN AB InBev Takeover

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13/10/2015

13th October, 2015 by Neal Baker
SABMiller has accepted `in principle` the latest takeover bid from rival AB Inbev, bringing the deal that would make the largest beer company in the world one step closer.

The London-based Peroni and Miller brewer agreed to the key terms of the latest offer from AB Inbev to take control of its shares for £44 each, meaning a deal worth roughly £70 billion.

In a statement, SABMiller`s board said that it would be prepared to unanimously recommend the offer to its shareholders.

A tie up between the two largest brewers in the world would create a company with revenues of US$64 billion (£42bn) per year, AB Inbev estimates.

The agreement comes after pressure began mounting on the SABMiller board when its largest shareholder, Altria Group, publicly disagreed with its position on previous offers. 

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