Budweiser and Stella owner approaches SABMiller for £182BN merger that would be one of the largest ever company deals

The owner of Budweiser and Stella Artois has approached London-listed SABMiller over a takeover that could create a new brewing giant worth a mammoth £182billion.

Peroni and Grolsch maker SAB confirmed that rival Anheuser-Busch InBev had said it was preparing to table an offer, after months of speculation about a possible bid for the FTSE 100 company. SAB surged more than 20 per cent, up 585.5p at 3,600.5p.

However, SAB said it had not yet received any bid proposal from AB InBev and did not have any details of the planned approach.

On the move: AB InBev - the owner of Budweiser and Stella Artois - has approached Peroni and Grolsch maker SABMiller in what would be one of the largest deals in corporate history

On the move: AB InBev - the owner of Budweiser and Stella Artois - has approached Peroni and Grolsch maker SABMiller in what would be one of the largest deals in corporate history

Anheuser-Busch InBev said in a statement: 'AB InBev confirms that it has made an approach to SABMiller's Board of Directors regarding a combination of the two companies. AB InBev's intention is to work with SABMiller's Board toward a recommended transaction.'

But it added: 'There can be no certainty that this approach will result in an offer or agreement, or as to the terms of any such agreement. A further statement will be made as appropriate.'

SAB said: 'The board of SABMiller will review and respond as appropriate to any proposal which might be made,'  

SABMiller also urged shareholders to sit tight and 'take no action' in the absence of any firm bid.

Anheuser-Busch InBev has until 5pm on October 14 to make an offer or walk away under a 'put up or shut up' deadline set by the City Takeover Panel.

A merger of the two firms would be one of the biggest ever deals in history and bring together two of the world's biggest beer groups. AB InBev's stable of more than 200 beers includes Corona, Beck's, Leffe and Hoegaarden.

SAB has Miller, Foster's, Coors and Bulmers cider. It employs around 69,000 people in more than 80 countries and has global annual sales of more than £16.9billion.

It claims more than 140,000 bottles of SABMiller beer are sold every minute of every day.

Its suitor and larger rival AB InBev, based in Leuven, Belgium, has a 155,000-strong global workforce and makes more than £30.5billion in global revenues.

Analysts have warned that there are likely to be regulatory issues if the deal was to go ahead.

Trevor Stirling at Bernstein said: 'The main areas of overlap are in North America and China. He writes: There are clearly regulatory hurdles that would need to be scaled; in particular, the US Department of Justice would almost certainly insist on the disposal of SAB's stake in Miller Coors in the USA. 

'And ABI might also have to dispose of SAB's 49 per cent stake [in] CR Snow in China. But it is also likely that Molson Coors and CRE would be willing purchasers respectively.' 

SAB attempted to acquire Heineken a year ago but its advances were rebuffed. Experts believe the move would have strengthened its defences against a takeover bid by AB InBev. 

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