The world’s two largest brewers may soon merge into one.
After weeks of courting SABMiller, only to be rebuffed again and again for buy-out proposals deemed too low, AB Inbev has entered into agreement to acquire its chief competitor.
According to reports, AB Inbev is offering approximately $67 per share for SABMiller (up from a previous bid of around $66 per share). This would make the deal worth about $104.2 billion.
The merger now requires a great deal of regulatory approval. Should the deal fall through, AB Inbev has agreed to pay $3 billion to SABMiller.
The news comes just before a deadline today that would have forced AB Inbev to wait another six months before extending another offer. The accepted proposal was AB Inbev’s fifth attempt to buy SABMiller.
AB Inbev is best known for its Budweiser and Stella Artois brands.