A-B InBev ups bid with third offer for SABMiller

SABMiller beers | Courtesy of SABMiller
SABMiller beers | Courtesy of SABMiller

Anheuser-Busch InBev announced early Wednesday that it has increased its bid for rival brewer SABMiller with an offer valued at about $104.1 billion. The offer comes after two private proposals were rejected.

A-B InBev’s latest cash offer is 42.15 pounds ($64.35) per SABMiller share, the company said in a statement early Wednesday. Its previous offers were at 38 and 40 pounds.

SABMiller said its board would meet “as soon as practicable” to consider the new offer and a further announcement would follow.

Meanwhile, SABMiller’s largest shareholder, Altria Group, voiced support for the latest offer. The group said is would support a proposal of 42.15 pounds or higher and urged SABMiller’s board to “engage promptly and constructively with A-B InBev” to agree on terms of an offer.

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