On Oct. 13, after lengthy negotiations and multiple dismissed proposals, British-based beer company SABMiller finally accepted “in principle” a 69 billion-pound ($106 billion US) takeover offer from Belgian-Brazilian brewing giant Anheuser Busch InBev.
This transaction is expected to create the world’s largest beer company.
AB InBev has until Oct. 28 to finalize a formal offer. In the mean time, the two sides will work on the terms and conditions of the takeover offer, as well as financing details.
AB InBev is the brewer of Budweiser, Labatt, Corona and Stella Artois, while SABMiller’s brands include Miller products, Foster’s, Peroni and Grolsch.
If the merger goes through, the merged company will control approximately 30 per cent of beer sales around the world.