Brewers Anheuser-Busch InBev N.V. and SABMiller PLC said in a news release Wednesday that they have reached agreement on AB InBev’s planned acquisition of SABMiller. SABMiller shareholders will receive £44 ($66.75) in cash per share, representing a premium of 50% to SABMiller’s closing price on Sept. 14, the last business day prior to renewed speculation about a deal, they said. SABMiller shareholders can choose instead to receive cash and certain restricted shares. The agreement values SABMiller’s entire issued and to be issued share capital at about £71 billion ($108 billion). The deal will be implemented by means of the acquisition of SABMiller by Newco, a Belgian company to be formed for the purposes of the transaction, and AB InBev will also merge into Newco, the release said. A Wall Street Journal report on Tuesday said Molson Coors Brewing Co. was nearing a deal to buy the rest of the MillerCoors LLC U.S. joint venture, paving the way for SABMiller to cement its sale to AB InBev. Shares in AB InBev, known for beer brands such as Budweiser and Stella Artois, traded 1.1% higher in Brussels, while SABMiller, known for brands such as Miller Lite and Peroni, gained 1.3% in London.
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