Placeholder canvas

SABMiller says AB InBev “substantially” undervalues group

Date:

Brewer SABMiller on Wednesday said its board will consider a higher takeover offer from rival AB InBev even though it “substantially” undervalued the group.

The world’s biggest brewer, Anheuser-Busch InBev, announced Wednesday an improved 68-billion-pound (92-billion-euro) takeover offer for British rival SABMiller.

The Belgian-Brazilian giant, which brews Budweiser, Corona and Stella Artois, said it was disappointed that SABMiller had rejected its two previous lower-priced offers “without any meaningful engagement”.

Responding in a company statement, SABMiller chairman Jan du Plessis said: “AB InBev is very substantially undervaluing SABMiller.”

The British group said that “it should be noted that the all-cash offer within the new proposal announced today is only 0.15 pounds higher.”

It added: “The board will, of course, meet formally to consider the 42.15 pounds (per share) proposal as soon as practicable and a further announcement will be made thereafter.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Share post:

Subscribe

Popular

More like this
Related

About 80,000 Leaders, Workers From Different Parties Join BJP Ahead Of Lok Sabha Elections

New Delhi: Ahead of the upcoming general elections 2024,...

Arvind Kejriwal’s ED Custody Extended Till April 1

New Delhi: Delhi's Rouse Avenue Court on Wednesday extended...

Fact Check: Mohan Bhagwat-Led RSS NOT Supporting INDIA Bloc

A video alleging that the Rashtriya Swayam Sevak Sangh...

India’s ‘Election King’ Prepares For 239th Bid Despite Record Of Defeats

New Delhi: K Padmarajan, a 65-year-old tyre repair shop...