Tue, Oct. 6, 6:28 AM
- SABMiller (OTCPK:SBMRY) has rejected an informal takeover bid from Anheuser-Busch InBev (NYSE:BUD) stating the offer was too low, Bloomberg reports.
- An initial proposal made last week was worth slightly over 40 pounds a share, but the British firm's executives and some shareholders regard a deal closer to 45 pounds as fair value.
- At the higher price, a deal would value SABMiller at about £73B ($110B), and would be the largest merger this year.
- U.K. takeover rules state AB InBev has until Oct. 14 to make an offer or announce it doesn't intend to proceed. SABMiller may also ask regulators for a deadline extension.
- BUD -0.8% premarket
- Previously: MegaBrew deal still moving forward (Oct. 05 2015)
- Previously: Anheuser-Busch starts lining up financing for SABMiller (Sep. 29 2015)
- Previously: More about an Anheuser-Busch InBev, SABMiller merger (Sep. 17 2015)
Mon, Oct. 5, 9:12 AM
- Anheuser-Busch InBev (NYSE:BUD) is closer to making its bid for SABMiller (OTCPK:SBMRY), according to Bloomberg's Jeffrey McCracken.
- A-B is negotiating terms with SABMiller as it seeks a "friendly" takeover. Financing for the acquisition is believed to be lined up.
- The waiting game has kept shares of Molson Coors (NYSE:TAP) trading in a relatively tight range of $82 to $84 as it looks for the green light to go after MillerCoors.
Tue, Sep. 29, 1:36 PM
- Anheuser Busch InBev (BUD -1.5%) is close to lining up financing for its acquisition of SABMiller (OTCPK:SBMRY), sources tell Bloomberg.
- The beer giant has Bank of America, Deutsche Bank, BNP Paribas, Societe Generale, and Banco Santander all bidding on the $50B to $70B in financing that it needs.
- SABMiller rose 5% in London trading today on enthusiasm a deal is brewing.
Sun, Sep. 27, 9:08 PM
- SABMiller (OTCPK:SBMRY) is pushing back against Anheuser-Busch InBev (NYSE:BUD) over a takeover price, according to The Sunday Times.
- The extended negotiations between the beer giants could lead to an offer from A-B this week in the neighborhood of $106B-$1110B, a level which would make the deal the largest takeover of a British company ever.
- A combination of A-B and SABMiller would bring 400 brands together under one house and lead to a ripple effect in the U.S. where MillerCoors could be set free.
Thu, Sep. 24, 1:19 PM
- U.S. beer prices will be higher this fall, although the rate of increase will be lower than a year ago, according to a report from OTR Global.
- Industry sources told the research firm that the industry is shifting to small incremental changes to avoid sticker shock with consumers.
- Volumes were higher in July and August for most major U.S. beer producers.
- OTR Global beer source: "My dollars are very strong as people shift to higher-end beers. Pricing is strong, and we will have an increase in late September."
- Related stocks: BUD, TAP, SAM, OTCPK:SBMRY.
Wed, Sep. 23, 12:48 PM
- Anheuser-Busch InBev (BUD -0.1%) snaps up Golden Road Brewing for an undisclosed amount. The deal is expected to close in Q4.
- The acquisition of Golden Road extends a string of craft brewery investments from A-B for its high-end business unit.
- California-based Golden Road is on pace to sell 45K barrels of beer this year. Though Golden Road's beer volume is on the low side, every extra barrel that Anheuser-Busch InBev sells in the U.S. increases the odds it will have to divest MillerCoors if it can pull off the acquisition of SABMiller.
Tue, Sep. 22, 11:42 AM
- Shares of Anheuser-Buch InBev (NYSE:BUD) are down 3.3% and now trade below where they did before the brewer's thirst for SABMiller was tipped last week. Uncertainty over how a deal would look has caused some investors to back away, say some analysts.
- Molson Coors (TAP -2.5%) is also lower on the day, but trades with a robust deal premium (+17% since the story leaked) with a combination of A-B and SABMiller seen giving the company a solid chance at gaining full control of MillerCoors. Evercore ISI says Molson Coors already has financing lined up for a MillerCoors JV buyout and would forsake its investment grade status to get a deal in the hopper.
Sat, Sep. 19, 5:59 PM
- Anheuser-Busch InBev (NYSE:BUD) is considering an audacious plan to switch its tax base to the UK if it can pull off the proposed £180B takeover of SABMiller (OTCPK:SBMRY).
- Altria (NYSE:MO), which controls 27% of SAB Miller and three board seats, currently collects tax free dividends thanks to a U.S./UK treaty, which would die if the new company were based in Belgium.
- BUD is current domiciled in Belgium, and has strong emotional ties to the country.
- Source: Telegraph
Fri, Sep. 18, 7:18 AM
- Analysts are raising the odds that Anheuser-Busch InBev (NYSE:BUD) can pull off a takeover of SABMiller (OTCPK:SBMRY) as major shareholders on both sides of the deal see value.
- A-B is buying a strong emerging markets business at a level artificially-depressed by F/X swings, while SABMiller may be out of options in growing itself to a higher share price than the A-B offer.
- Swinging a deal require the approval of two key SABMiller shareholders - Altria (NYSE:MO) owns 42% of the U.K.-based beer company and Columbian beer magnate Santo Domingo holds 15% of shares.
Thu, Sep. 17, 4:21 AM
- The beer industry is calling it "Megabrew" - or the potential $275B merger between Anheuser-Busch InBev (NYSE:BUD) and SABMiller (OTCPK:SBMRY).
- Word that SABMiller would receive an offer from its bigger rival triggered a beer stock rally yesterday, on hopes the potential takeover would prompt a number of follow-on deals as the two shed assets to win regulatory backing.
- Separate from those approvals, Anheuser-Busch InBev must also win over a number of important players. Among them are two of SABMiller's biggest investors: Altria (NYSE:MO) and the Santo Domingos, one of the wealthiest families in Colombia.
- Previously: Anheuser-Busch InBev rocks the food and beverage sector (Sep. 16 2015)
- Previously: Beer stock rally with M&A on tap (Sep. 16 2015)
- Previously: AB InBev prepping offer for SABMiller (Sep. 16 2015)
Wed, Sep. 16, 11:01 AM
- A statement from Anheuser-Busch InBev (BUD +5%) indicates the company must make a formal offer for SABMiller (OTCPK:SBMRY +19.5%) before October 14 or take a pass on the mega-merger to stay in compliance with U.K. law.
- There's a ripple effect with beer stocks circling the globe that includes distributors such as Compania Cervecerias Unidas (CCU +3.1%), Fomento Economico Mexicano (FMX +1.8%), AmBev (ABEV +2.1%).
- Another intriguing aspect of a potential A-B takeover of SABMiller is the side effects on the food industry if 3G Capital is fully engaged on the deal. 3G is a major player in food mergers and a factor in how investors value companies such as Mondelez International (MDLZ +0.2%), PepsiCo (PEP +0.4%), TreeHouse Foods (THS +0.1%), Campbell Soup (CPB +1.9%), JM Smucker (SJM +1.1%), and other food names.
- A-B InBev statement (.pdf)
- Previously: AB InBev prepping offer for SABMiller
- Previously: Beer stock rally with M&A on tap
Wed, Sep. 16, 9:56 AM
- Beer stocks are in party mode with Anheuser-Busch InBev (BUD +6.9%) closing in on making an offer for SABMiller (OTCPK:SBMRY +20.5%).
- Consolidation within the industry is seen supporting pricing and raising the M&A profile of large and smaller players alike.
- Gainers: Heineken ADRs (OTCQX:HEINY) +3.7%, Diageo (NYSE:DEO) +2.9%, Molson Coors (NYSE:TAP) +14.5%, Carlsberg (OTCPK:CABGY) +3.7%, Craft Brew Alliance (OTCPK:CABGY) +3.7%, Constellation Brands (NYSE:STZ) +0.8%, Boston Beer (NYSE:SAM) +1.6%.
- Previously: AB InBev prepping offer for SABMiller (Sep. 16 2015)
- Previously: Molson Coors pops with A-B circling SABMiller (Sep. 16 2015)
Wed, Sep. 16, 9:12 AM
Wed, Sep. 16, 6:25 AM
- Anheuser-Busch InBev (NYSE:BUD) has informed rival SABMiller (OTCPK:SBMRY) that it intends to make an offer to acquire the British firm in a deal that would bring together the world's two largest beermakers.
- "No proposal has yet been received and the board of SABMiller has no further details about the terms of any such proposal," the company said in a statement.
- SABMiller shares +20.5% in London; BUD +5% premarket.
Tue, Sep. 15, 11:23 AM
- Shares of SABMiller (OTCPK:SBMRY +2.2%) trade higher with some speculation making the rounds indicating Altria (MO +1.7%) pulled out of a Bank of America Merrill Lynch conference to follow up on a similar action by Anheuser-Busch InBev (BUD +0.2%).
- A takeover of SABMiller by Anheuser-Busch InBev would benefit Altria with the tobacco company holding a 28% stake in SABMiller
Thu, Sep. 10, 4:02 PM| Thu, Sep. 10, 4:02 PM | Comment!
Anheuser-Busch Inbev SA is engaged in the production, marketing, and distribution of beer. Its brand comprises of Budweiser, Corona and Stella Artois. It also manufactures non-alcoholic beverages such as bottle water and Ice tea.
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