SABMiller Reportedly Halts Integration Work With AB InBev

(RTTNews) - SABMiller Plc. (SBMRY.PK, SAB.L) has halted its integration work with Belgian brewer Anheuser-Busch InBev NV or AB InBev (BUD, AHBIF.PK), as the London-based brewer's board consults with shareholders over whether the revised offer AB InBev broached on Tuesday is acceptable, according to reports.

SABMiller's board is now consulting with its largest shareholders to assess whether they like the new offer and plans to meet to consider the revised bid before making a final recommendation on whether shareholders should accept the latest deal.

A recommendation by SABMiller's board could come within days, the reports said.

On Tuesday, AB InBev said that it raised its offer for rival brewer SABMiller, and confirmed that the offer is final and it will not further increase the Cash Consideration or the cash element or the exchange ratio of the Partial Share Alternative.

The Belgian-based brewer will now pay 45 pounds per share in cash for SABMiller, up from its earlier offer of 44 pounds per share in cash. The company said the new terms value SABMiller at about 79 billion pound.

SABMiller shareholders can also choose to take a partial share alternative of 0.483969 restricted shares and 4.6588 pounds in cash. The revised partial share alterative values each SABMiller share at 51.14 pr share, based on its closing share price Monday.