Anheuser-Busch InBev raises its $100 billion-plus bid for rival brewer SABMiller after a slide in the value of the pound following the Brexit vote made the offer less attractive for many investors, threatening to derail the deal. Grace Pascoe reports.
Could 1 pound be the deal clincher? When it's 1 pound more per share - raising the price to £45, possibly. At least that's what the world's biggest brewer AB InBev hope it will do In their bid for their nearest rival SABMiller, now valued at around 79 billion pounds or 103 billion dollars. The sweetener came after a slide in sterling following the Brexit vote made the offer less attractive for many investors. Threatening to derail the deal. Ab InBev also tweaked the terms of an alternative share-and-cash structure designed for SABMiller's two largest shareholders, raising the cash element by 88 pence a share. Regulatory approval is still pending from China. But analysts suggest the deal is now likely to go through.