The offer price is 50 percent above the closing value on September 14, the day before takeover speculation resurfaced.
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SABMiller shares closed 1.3 percent down in London at 3,622 pence, while AB InBev was nearly unchanged in Brussels at 98.35 euros.
Observers say the real catalysts for the $100 billion takeover proposal are a steep fall in SABMiller’s share price, search for growth beyond AB InBev’s declining core Americas markets and a desire not to give SABMiller’s new management enough time to execute a workable defense.
The world’s largest brewery tried again Monday to get one of its main competitors to accept a takeover bid that would put products of both brewers under the same roof.
Anheuser-Busch InBev is attempting to get SABMiller to reengage in takeover talks to reach a deal before the deadline passes this week.
The brewer of Budweiser and Stella Artois may raise its offer to as much as 44 pounds per share, source close to the matter told Reuters on Sunday.
Its suitor AB InBev has a 155,000-strong global workforce and makes more than $47.1bn (£30.5bn) in global revenues.
However, U.K law stipulates that SABMiller must make a formal offer by 5 p.m. on October 14 or walk away from the deal.
SABMiller’s two largest shareholders, Altria Group Inc. and Bevco Ltd., can receive cash and stock valued at 39.03 pounds a share for their stakes, which account for 41 percent of the company.
“We have confidence in the board and we will rely on their judgment”. SABMiller said its board is prepared to recommend the deal in principal.
If the merger deal is formally agreed, then the combined company will control a few 31 percent of beer sales around the globe. SAB is now one of the largest shareholdings in its portfolio and PIC has said it is keen to hold on to shares in the new business.
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AB InBev wants SABMiller’s exposure to emerging markets in Latin America and Africa, SABMiller, on the other hand, is trying to maintain its independence, and sought to rally shareholders around its refusal.
