GLOBAL: AB InBev set to table formal bid for SABMiller | Progresiv
Anheuser-Busch InBev is thought to be close to announcing a formal bid for SABMiller in a deal that would create a 181 billion pounds brewing behemoth with more than 400 brands. 
London-listed SABMiller was initially reported to be reticent about negotiating a deal but has become more open to the idea following pressure from tobacco giant Altria, which owns a 27pc stake and has three seats on its board.
It is understood that AB InBev – which owns Budweiser, Corona and Stella Artois – won over Altria before approaching SABMiller. The Marlboro maker said it would prefer an offer in shares rather than cash to avoid a massive capital gains tax bill.
US-based Altria and other overseas shareholders also face the prospect of heavy taxes on dividends if the combined company is headquartered in Belgium, which could result in being taxed both in Belgium and in their home country.
Aside from being the world's second-largest brewer, SABMiller's exposure to Africa, where it makes 28pc of its revenues, makes the FTSE 100 company particularly attractive to its Leuven-based rival. AB InBev's deadline is October 14, by when it must make a formal offer or walk away from the deal. (www.telegraph.co.uk)
