SABMiller, the world’s second largest beer brewer, has yet again rejected an improved takeover proposal from Anheuser-Busch InBev.
The JSE-listed juggernaut reckons the R1.4 trillion offer is “very substantially” under par.
“The deadline is approaching and we thought we should make it public,” said AB InBev CEO Carlos Brito.
“Now it’s up to the shareholders to have a look at it. If they think this is a good offer, they should act and encourage the board to engage.”
Brito said he was committed to a friendly deal, but did not rule out going hostile.
“I don’t want to go there now. I think there’s too much to be gained in the next few days,” he said.
The Money Show’s Bruce Whitfield asked Ann Crotty, Journalist at Business Times for Sunday Times, if the AB InBev offer isn’t already hostile.
Whitfield also spoke to Garth McKenzie, Share Trader at Traders Corner, about his son’s famous portfolio, which holds SABMiller shares.
How would McKenzie vote if he could on behalf of his son?
Scroll down for quotes from the audio below.
I’m pretty sure that all the shareholders are quite desperate to see this deal happen.— Ann Crotty, Journalist at Business Times for Sunday Times
I would hate for us to lose one of South Africa’s greatest companies. I know it’s about money, but you can still get emotional, can’t you?— Ann Crotty, Journalist at Business Times for Sunday Times
SABMiller Chairperson Jan du Plessis thinks he is obliged to push a bit more.— Ann Crotty, Journalist at Business Times for Sunday Times
I would take the money and run.— Garth McKenzie
There’s probably a 25% to 30% premium built into the price of SABMiller.— Garth McKenzie
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