SABMiller rebuffed by Heineken
SABMiller has considered a possible combination with rival beer maker Heineken, in a deal that would have brought together two of Europe’s biggest brewers and helped it fend off a takeover bid from rival AB InBev.
Dutch-listed Heineken has been sought after by rival beermakers for years but remains a difficult target.
Heineken said on Sunday that it had been approached by SABMiller about a potential acquisition.
Heineken, the maker of Amstel, Birra Morretti and Newcastle Brown Ale, has a market capitalisation of €34.
The move by SABMiller comes amid speculation that AB InBev, the world’s largest brewer, is targeting a megadeal for SABMiller, the maker of Peroni, Grolsch and Miller Lite.
Takeover talk has increased in part because other consumer sectors such as food, spirits, healthcare and tobacco have seen a big pick-up in mergers and acquisitions.
A deal for SABMiller would allow AB InBev, which makes Budweiser, Stella Artois and Corona, to address its problem of a slowdown in growth in beer volumes.
SABMiller’s two biggest shareholders are Altria, the US tobacco group, which has a 27 per cent stake, and Colombia’s billionaire Santo Domingo family, with 15 per cent.
Source: FT- SABMiller rebuffed by Heineken
