Investors including Allan Gray, Davidson Kempner Capital Management and Elliott Management are among those prepared to back the offer, said the people, who asked not to be named because the details aren’t public.
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BRUSSELS, July 29 (Reuters) – Anheuser-Busch InBev, the world’s largest brewer, said its offer for nearest rival SABMiller was final and could not be changed, as it cut its guidance for sales growth in Brazil this year due to the struggling economy. SABMiller managers asked employees to halt integration work, knitting together the makers of brands including Budweiser, Beck’s and Aguila, while they review the new offer.
“This means there should be no contact with AB InBev with immediate effect, and all meetings and calls will be postponed until further notice“.
Aberdeen Asset Management, whose stake in SABMiller is in excess of 1 percent, on Tuesday made plain its unhappiness with both the new cash offer and the overall situation.
Still, AB InBev’s U.S.-listed shares fell 3 percent and shares of Molson Coors, which is set to take over SAB’s USA operations, fell 5 percent on concerns about the fate of the $100 billion-plus deal, one of the biggest in corporate history.
AB InBev has looked to ensure the closing of this deal by the second half of 2016, and has been working with SABMiller on integrating technology, finance, procurement, and certain supply-chain functions.
The revelation came a day after AB InBev nudged its cash bid for the British brewer up to 79 billion pounds ($103.6 billion) to account for the pound’s plunge in the wake of the United Kingdom’s vote last month to leave the European Union.
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“We believe the revised and final offer represents a compelling opportunity for all SABMiller shareholders”, Brito said. SABMiller’s shares could also fall below 40 pounds if the deal collapses, from about 43 pounds Thursday, according to analyst estimates.
