AB InBev increases SABMiller bid because of Brexit

AB InBev increases SABMiller bid because of Brexit

AB InBev has decided to increase its SABMiller bid by a pound to 45 pounds per share, after SABMiller's major shareholders asked for an increased bid: they felt the Brexit had devaluated the original bid.

Brexit

As the UK's impeding exit from the European Union has lowered the British pound's value, SABMiller's major shareholders TCI, Davidson Kempner Capital and Elliott Management prompted AB InBev to increase its bid. The new offer now stands at 79 billion pounds (94 billion euro), which means it is worth as much as the original bid in October 2015, looking at the value in euro. 

 

In the meantime, the merger between the world's largest two breweries inches closer. The American Bureau of Competition recently approved the deal, subject to a few conditions, while Europe had already done so. China is now the only country left for approval.