AB InBev raises bid for SABMiller after pound slumps on Brexit | Progresiv
Anheuser-Busch InBev NV raised its bid for British brewer SABMiller Plc to 79 billion pounds (103 billion dollars), responding to investor concerns about the deal’s structure after the U.K.’s vote to exit the European Union prompted a slump in sterling. 
SABMiller shareholders will be entitled to receive 45 pounds (59 dollars) a share, AB InBev said in a statement Tuesday, from 44 pounds previously. ABI also increased the amount of cash for shareholders who choose a cash-and-stock alternative. They’ll now receive about 4.66 pounds in cash compared with 3.78 pounds previously.
By raising the offer, the world’s biggest brewer addressed concerns from investors including Elliott Management and Davidson Kempner Capital Management that the deal was less attractive in the wake of the pound’s fall. SABMiller Chairman Jan du Plessis said that the board would wait until Chinese regulators approved the takeover before weighing the deal’s terms. SABMiller’s board had unanimously recommended the offer from the maker of Budweiser beer, in what would be the industry’s biggest-ever deal. (www.esmmagazine.com)
