It looks like the biggest takeover in years is in trouble
That follows news out Tuesday that AB InBev, the maker of Budweiser, had raised its bid to 45 pounds ($59) a share from the 44 pounds ($57) announced back in October.
A number of activist investors in SAB Miller, including Elliot Management, had raised concerns about the deal following a 12% drop in the pound versus the dollar since the UK voted to leave the European Union in June.
AB InBev also tweaked the terms of an alternative share-and-cash structure designed for SABMiller's two largest shareholders, raising the cash element by 88 pence a share, according to Reuters.
AB InBev's new bid for #UK SABMiller is $125bn (£82.7bn), the 3rd largest M&A deal on record #market $SAB pic.twitter.com/HMb5dYg44F
- Dealogic (@Dealogic) July 26, 2016
The new offer values SABMiller at roughly $125 billion. The beer-maker's shares dipped in response to the news today.
Investing.com
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