Britain’s decision to leave the EU has complicated a slew of deals. In the latest twist, the plummeting pound is creating an unintended 2.4 billion-pound ($3.2 billion) premium for a select few shareholders in SABMiller Plc.
Under the terms of Anheuser-Busch InBev’s 77.8 billion-pound takeover offer, SABMiller investors can choose 44 pounds a share in cash or a mix of cash and stock that was valued at just over 39 pounds a share when the deal was announced in October. But the pound’s drop against the euro has pushed its value to about 51.50 pounds a share, 17 percent above the cash offer.
Representatives for SABMiller and AB InBev declined to comment.
A-B InBev’s takeover of London-based SABMiller – set to be the largest corporate takeover in U.K. history – is one of many European deals muddied by the economic uncertainty following the Brexit vote.
Read more: Bloomberg