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A
merged group would have a combined market value of around $270
billion, based on current prices. It would combine AB InBev's
dominance of Latin America with SABMiller's strong presence in
Africa, both fast-growing markets, as well as strengthening
their position in Asia.
Britain-based SABMiller, the world's No. 2 brewer, said on
Wednesday that it had been informed by its bigger Belgian rival
that it intended to make a proposal but it did not have any
further information about the terms.
"The board of SABMiller will review and respond as appropriate
to any proposal which might be made," it said. "There can be no
certainty that an offer will be made or as to the terms on which
any offer might be made."
AB InBev responded by confirming its approach to SABMiller's
board. "There can be no certainty that this approach will result
in an offer or agreement, or as to the terms of any such
agreement," it said.
Shares in SAB, which owns such brands as Peroni, Grolsch and
Pilsner Urquell, were up 21 percent. AB, which has Budweiser,
Stella Artois and Corona, was up 7 percent before trading was
suspended.
Speculation of such a mega-merger has often surfaced in a global
market increasingly dominated by big multinationals.
One key area of concern to regulators would be the combined
group's market share in the United States, where AB InBev has
almost half the market and SABMiller's joint venture with Molson
Coors just under 30 percent.
(Reporting by Kate Holton and Philip Blenkinsop; Editing by Paul
Sandle and Pravin Char)
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