WHEN: Today, Monday, September 15th
Following is the unofficial transcript of breaking news from CNBC's David Faber. Following is a link to the video on CNBC.com: http://video.cnbc.com/gallery/?video=3000310604.
All references must be sourced to CNBC.
DAVID FABER: A GREAT DEAL OF TALK OVER THE WEEKEND ABOUT BEER CONSOLIDATION. WE HAD A STORY, OF COURSE, ORIGINALLY REPORTED BY BLOOMBERG THAT SAB HAD APPROACHED HEINEKEN. THAT CONFIRMED BY HEINEKEN WHICH HAS TOLD THE WORLD THAT IT IS NOT INTERESTED IN THAT APPROACH. BUT THIS MORNING, ANOTHER STORY IN THE JOURNAL INDICATING OR AT LEAST POSITING ACCORDING TO A SOURCE THEY QUOTE, FAMILIAR WITH THE SITUATION OR CLOSE TO THE SITUATION, THAT THERE IS FINANCING BEING PUT TOGETHER BY AB INBEV TO PURCHASE SAB. WHAT I CAN TELL YOU THIS MORNING IS, ACCORDING TO MY SOURCES, THAT IS NOT TRUE. THERE IS NO TALKS WITH BANKS AT THIS POINT. BY AB INBEV TRYING TO PUT TOGETHER ANY FINANCING FOR SAB. NOW, WE'RE NO STRANGER TO THIS STORY. IT HAS BEEN AROUND, IN FACT, THE FIRST RUMORS OF THIS KIND OF A FINANCING WERE BACK IN JUNE. FIRST REPORTED BY THE FT. AND SO, THE IDEA OF BEER CONSOLIDATION HAS OUT THERE FOR QUITE SOMETIME AND CERTAINLY MANY LOOK AT SAB AS A POTENTIAL CANDIDATE FOR THAT, AN ENORMOUS DEAL OF COURSE THOUGH IT WOULD BE FOR AB INBEV. BUT I CAN TELL YOU THIS MORNING THERE ARE NO TALKS ABOUT ANY FINANCING WHATSOEVER NOR ARE THERE ANY TALKS BETWEEN SABMILLER AND AB INBEV. WILL THERE BE IN THE FUTURE? IS THERE POSSIBLE – THE POSSIBILITY OF AN ENORMOUS CONSOLIDATION YET TO COME IN THIS INDUSTRY, JIM? PERHAPS. BUT THERE ARE A LOT OF GATING ISSUES WHICH ARE WORTH THINKING ABOUT, BUT DID WANT TO JUST PUT THAT OUT THERE THIS MORNING BECAUSE SAB SHARES WERE UP SHARPLY. IT MAY, IN FACT, EVEN PROMPT, YOU KNOW, THE TAKEOVER PANEL IN THE UK SAYS, HEY, YOU HAVE TO TELL US SOMETHING. SO YOU MAY HEAR FROM SAB SAYING WELL, THERE'S NO TALKS, BUT THEY MIGHT EVEN HAVE TO GO TO BUD AT WHICH CASE, YOU WILL HEAR WHAT I HAVE JUST REPORTED.
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