After rejecting a number of earlier offers, British-based beer company SABMiller accepted in principle a 69 billion British pound ($106 billion) offer from Budweiser brewer Anheuser Busch InBev.
If Tuesday's agreement is finalized, the new beer company will be the largest in the world and control two top U.S. brands in Budweiser and Miller Genuine Draft,according to the Associated Press.
SABMiller rejected at least four other offers before provisionally accepting the offer which values SABMiller at 44 pounds (about $67) per share, 6 pounds (about $9) more than AB InBev's first offer a month ago.
As we reported last week, SABMiller turned down a $104 billion cash bid from AB InBev — the company's third offer — saying AB InBev "still very substantially" undervalued the maker of Miller Lite and Coors.
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7 comments:
I was shocked to see Budweiser on tap in a little Irish village pub when I visited a few years ago. The publican told me that only tourists drink it.
12:59 -
Those tourists don't know what they're missing. What's the point of traveling if you just eat and drink what you do at home?
American beer is watered down and does not have the same alcohol content as European beers. I do not blame them for not wanting to drink our commercial swell.
I thought their was monopoly laws against all these mega mergers.I guess special interest money trumps all laws.
I stopped drinking Budweiser years ago in favor of the better micro brews. The only corporate beer I buy is Yuengling's porter stout. Still an American company made in America.
Bud sucks. When you open any can or bottle no sound. FLAT stale beer.
5:31PM
I TOTALLY agree., and what's more., it's a large part of what is wrong with America today.., the competition has been 'acquired'.
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