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.
Read More at Source | The Drinks Business