After weeks of toying and teasing with AB InBev, SABMiller finally agreed to head down the aisle in one of the biggest mergers in history. But it’s taken almost a month for the beer giants to officially sign on the dotted line, just before a legal deadline expired this afternoon.
AB InBev, which owns Stella Artois and Budweiser, formally announced it’s paying £44 a share for its British-South African rival, valuing the FTSE 100 brewer at a staggering £71bn.
But it’s not over until it’s over – creating the world’s largest brewer is a regulatory minefield. As part of the deal, SABMiller is selling its 58% stake in the Stateside MillerCoors joint venture to its partner, Molson Coors, for $12bn (£7.9bn). No surprises there given AB InBev, which says buying SABMiller will save it $1.4bn a year within four years, already controls almost 50% of the US beer market.