SABMiller’s share price soars as it confirms AB InBev takeover speculation
British brewer SABMiller's share price jumped more than 22 per cent this morning after confirming that rival Anheuser-Busch InBev (AB InBev) intends to make an offer to buy the firm.
The deal between the world's two largest beer-makers would create a company with a joint market capitalisation of $250bn (£162bn).
The SABMiller board said it had been informed by AB InBev that of its intention to acquire SABMiller, but had not yet received an offer.
However investors have reacted strongly to the news, with SABMiller's share price leaping 22.7 per cent at pixel time.
Its rival has until 5pm on 14 October 2015 to announce its firm intention to make an offer. In the meantime it advised shareholders to retain their shares and take no further action.