Photographer: Daniel Acker/Bloomberg

Cash Isn't King: Altria Is Better Off With Stock in Beer Merger

Updated on
  • Tobacco giant has long held 27 percent stake in SABMiller
  • Cash deal could cause major capital-gains pain for Altria

Anheuser-Busch InBev NV’s pursuit of history’s biggest beer merger carries a downside for Altria Group Inc., the top shareholder in would-be target SABMiller Plc.

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