The world’s largest brewer Anheuser-Busch InBev has sweetened its takeover offer for British rival SABMiller because of the sliding value of the pound following the Brexit vote.
The world’s largest brewer Anheuser-Busch InBev has sweetened its takeover offer for British rival SABMiller.
The reason is that a slide in the value of the pound following the Brexit vote made the offer less attractive for many investors.
The world’s largest brewer will now offer 45 pounds (53.72 euros) a share for its nearest rival, an increase from the 44 pounds announced in October last year.
AB InBev, a multinational Belgian-Brazilian company, was responding to complaints from activist shareholders.
It said it would not raise its bid any further and analysts believe this should be enough to ensure the deal goes ahead.
To get approval from competition regulators both companies have agreed to sell large parts of their business following the megamerger.
Justice Department Clears AB #InBev’s Takeover of #SABMillerhttps://t.co/aCbAmWUUAo via
WSJ</a> <a href="https://twitter.com/ABInBevNews">ABInBevNews
MillerCoors</a> <a href="https://twitter.com/BeerAdvocate">BeerAdvocate
— C-Store News (@CStoreNews_) July 21, 2016