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SABMiller Said to Seek More Time for AB InBev's Formal Bid

  • Brewers want to shore up shareholder support and financing
  • U.K. takeover panel deadline is 5 p.m. Wednesday in London
SABMiller Miller Lite brand beer at a warehouse in Peoria, Illinois.

SABMiller Miller Lite brand beer at a warehouse in Peoria, Illinois.

Photographer: Daniel Acker/Bloomberg
Updated on

SABMiller Plc plans to ask U.K. regulators to again extend a deadline for Anheuser-Busch InBev NV to make a formal takeover offer as both sides want more time to shore up shareholder support and financing, according to people familiar with the negotiations.

SABMiller intends to request that London’s Panel on Takeovers and Mergers push back the 5 p.m. Wednesday deadline, said the people, who asked not to be identified as the discussions are private. While talks are progressing, the companies would like more time to canvass shareholders and complete the loan package and legal documentation, two of the people said.