SABMiller’s integration with Anheuser-Busch looks set to resume after temporarily stalling, paving the way for the two companies to create by far the world’s largest alcohol manufacturer with control over close to a third of the world’s alcohol market.
SABMiller shareholders were reportedly dissatisfied with the terms of a revised offer made by Anheuser-Busch.
The two companies had agreed a £70 billion merger, which was upped to £79 billion this week to reflect the weakening of the pound since the UK’s decision to leave the European Union. Since 23 June, the pound has fallen against the dollar by almost 14%, and AB InBev’s improved offer addresses all but 1% of that change.
Media reports speculated that SABMiller shareholders were dissatisfied by the amount to which AB InBev had compensated for currency volatility.
But signs have now emerged that show the two companies will be able to press ahead with the merger.
Anheuser-Busch shares have risen 2.6% amid optimism that the deal will go ahead, and after a number of SABMiller shareholders reportedly signalled their intention to accept the revised offer.
‘‘On a normal day we would expect the shares to come under some pressure this morning,” Jonathan Fyfe, an analyst at Mirabaud, was quoted as saying by Bloomberg. ‘‘However, last night’s news that numerous SABMiller shareholders have declared themselves in favor of the bid may well provide a handy offset.”
Anheuser-Busch remained committed to sealing the deal by the end of the year, Bloomberg continued.
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