The creation of the world's largest brewer took a step closer after Anheuser-Busch InBev agreed the terms of its planned takeover of Anglo-Belgian rival SABMiller (SAB). The deal seems inevitable now US-Canadian brewer Molson Coors will buy SAB's 50 per cent stake in the pair's MillerCoors joint venture for $12bn (£7.8bn). Without it, the deal could have hit competition hurdles.
The £44 per share price tag is unchanged from last month, as is the partial share alternative of 41 per cent of share capital including £3.77 in cash and 0.4839 in restricted shares for SAB's two largest shareholders Altria, the US tobacco company, and BevCo, owned by the Santo Domingo family.
Analysts at Canaccord Genuity said SAB can make dividend payments to shareholders in the period to the deal closing so long as the payout ratio is not increased on a year-over-year basis. The new combined entity is not expected to trade on the London Stock Exchange.
