SABMiller Board Recommends AB InBev’s New $104 Billion Offer
- Altria, Bevco proposed to be separate class of shareholders
- ‘The board’s decision was difficult’: SAB Chairman du Plessis
A MillerCoors brand Miller Lite beer logo is displayed on the rear of a delivery truck at Stagnaro Distributing, LLC in Cincinnati, Ohio, U.S., on Wednesday, August 5, 2015.
Photographer: Luke Sharett/BloombergSABMiller Plc’s board unanimously recommended Anheuser-Busch InBev SA’s improved $104 billion takeover offer, paving the way for the biggest acquisition in the history of the beer industry and capping a tumultuous week in which the Budweiser maker bowed to pressure to sweeten its offer.
The board of London-based SABMiller proposed that its two biggest shareholders, Altria Group Inc. and Bevco Ltd., be treated as a separate class of stockholders and allow other SABMiller investors to vote on the new offer separately, the company said in a statement. AB InBev said it welcomed the recommendation, in a separate statement.