AB InBev Pursuit of SAB Seen Benefiting From Heineken Rejection

SABMiller Plc’s failure to erect a defense against Anheuser-Busch InBev NV by combining with Heineken NV has left the world’s second-largest brewer even more vulnerable to a takeover by the industry leader.

Heineken said yesterday that it rejected an approach from London-based SABMiller, an overture that intended to help fend off a possible bid for the Miller Lite maker by AB InBev, according to people with knowledge of the matter. SABMiller is assessing its next move, the people said, yet its options are now more limited and the ball is in the Belgian giant’s court to move forward with a long-speculated takeover.