Sept. 15 - Heineken has rebuffed a preliminary offer from SABMiller, according to Bloomberg News. Antitrust hurdles could be one of the reasons behind the Dutch brewer’s decision, says Breakingviews Robert Cole.
There -- lots of excitement about a potential SABMiller Heineken time out that are obstacles of course prices been mentioned -- trust hurdles. Or maybe simply the family Heineken family comic candidates get -- -- that Robert -- and appease on this what will what you think Robert what what's the reason. So -- Heineken. Well it. There are two reasons that I put so old I am -- specified these but it hinted -- The first is that on committees then. But if you owned and controlled by -- Amish elders. They actually and about 25% in the economic interest but -- do African holdings so holding. I think they're lobbying them I found a controlled company in the off to be fat offensive benefits. For doing that. But that your that are clearly quiet launch antitrust panels well this is I think the world -- and I imagine these things of course but. The world's number two in the world's number theory I think that -- foremost whether or very -- hurdles in Europe. And some in Asia summit for current. Africa as well. I am but it's slightly you know suddenly there is no full when it comes to matches and acquisitions and it is invented a string of them. Of of deals of the last twenty years. So it's not going to have night it's kind of approach. Unless it had serious intentions. I knew I -- that the antitrust. Excuse what's amount of all right but also Ole -- And also you know it's no secret that the Heineken family is is tightly held. And if that's the kind of standard but which is never going to be perceived beautiful circuses SAC wouldn't have all the so it was so what -- -- a price issue for the fast. Well I don't think they've done much in terms of the exploring process certainly I think they've got to look at what they want to -- are happy for the yet. Takes Michigan principal island to see whether there are opportunities of soy there always looked at the end of the antitrust hurdles a lot of money. And I think that the thing that makes this attractive and means that it might possibly done is the focus on emerging markets Europe as a a big a market for both of these plans. It's essentially the two. If they can results. The to trust that. And really now build a global powerhouse which can compete -- I mean that's been. In America. Did I Asia. And get some significant cost savings as well. It means that that this deal how has life and that also means the behind the confer. I'm a we'll have an interest in backing it says could move away from that traditionally held. Yeah it could -- -- look at -- announced in and then -- how quickly Arizona Austin Austin. Well I'm I think it would being the big difference is that so nothing who's a total actually that those missile impacts. And and you know the potentials full value creation and serving markets about two YE. It is is just left on left on one side. Are you content now Steve you know India and buttons become. These these two sides don't really. And UN is engaging it really. All right Robert many thanks about Robert -- has a piece almost when rebels has apiece after breaking news on the story today. The US shares atrocities -- with -- what's his.