Multinational beverage and brewing company Anheuser-Busch InBev (AB InBev) has made a revised and final offer for the entire issued and to be issued share capital of JSE-listed SABMiller.
This development follows a July 22 conversation between SABMiller’s chairperson and that of AB InBev on the offer for SABMiller in light of recent exchange rate volatility and market movements, the South African brewery and beverage company said on Tuesday.
There was no discussion or agreement about the terms of the revised offer, which comprises an all-cash offer of £45 a share in cash and a partial share alternative, available for about 41% of the SABMiller shares, consisting of 0.483969 unlisted shares and £4.6588 in cash for each SABMiller share.
The SABMiller board confirmed that it had engaged private investment firm Centerview Partners last week to provide additional financial advice alongside that of its existing financial advisers.
“The board will continue to consult with shareholders and will meet in due course formally to review, having regard to all facts and circumstances, the revised offer and a further announcement will be made thereafter,” SABMiller stated.
Reuters reported on June 30 that South Africa had cleared AB InBev's $100-billion-plus deal to acquire SABMiller, putting the merger "on track" to be completed within the next six months.