SABMiller Doubles Cost Savings Target as AB InBev Circles

  • Brewer meets with investors, pledging $1.05 billion in cuts
  • Shares erase decline after falling as much as 0.8 percent

Workers gather various SABMiller brand beer for a customer order at a warehouse in Peoria, Illinois.

Photographer: Daniel Acker/Bloomberg

SABMiller Plc doubled the amount of planned cost reductions as it began meetings with shareholders to rally them around its rebuff of Anheuser-Busch InBev NV, the larger rival seeking to buy the U.K. brewer for a record 65.2 billion pounds ($100 billion).

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