Food & Beverage

Budweiser set for last-ditch charge at SAB : Sunday Times

Bottles of SABMiller's Miller Lite and Anheuser-Busch InBev's Budweiser beer.
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Anheuser-Busch InBev is likely to increase its offer for U.K. brewer SABMiller to £43-£44 a share ahead of Wednesday's deadline in an effort to clinch what could be the largest takeover of a British company, the Sunday Times reported.

SABMiller last week rejected AB InBev's raised bid to buy the group for £42.15 per share in cash, which would have given it a value of nearly £68 billion ($104.22 billion).

Read More SABMiller rejects AB InBev bid to build monster brewer

Citing sources close to AB InBev, the newspaper reported that Brussels-listed AB InBev is understood to be willing to move closer to £70 billion, but is prepared to walk away if SAB does not make some concessions.

The previous cash proposal represented a premium of approximately 44 percent to SABMiller's closing share price of £29.34 on 14 September. The group said it expected most SABMiller shareholders to accept the higher cash offer. Altria, SABMiller's largest shareholder with a 27 percent stake, said it supported the proposal.

The Sunday Times report can be seen here