(Reuters) - Anheuser-Busch InBev has approached its biggest rival SABMiller with about a takeover that would form a brewing group producing a third of the world’s beer.
AB InBev has already grown into the world’s biggest brewer through a string of deals to give it ownership of a wide range of international brands, including Budweiser, Corona, Stella Artois, Beck’s, Leffe and Hoegaarden.
Following is a summary of key events in AB Inbev’s growth:
The largest breweries in Belgium, Artois and Piedboeuf, merge to form Interbrew.
Investment firm 3G Capital, founded by billionaires Jorge Paulo Lemann, Carlos Alberto Sicupira and Marcel Telles, buys Companhia Cervejaria Brahma for $50 million.
Interbrew acquires Labatt, the largest brewer in Canada.
Brahma takes over Antarctica, Brazil’s biggest brewery, to create Ambev.
Interbrew and AmBev combine to form InBev.
InBev merges with Anheuser-Busch.
Anheuser-Busch Inbev buys remaining 50 percent of Modelo for $20.1 billion.
Anheuser-Busch InBev approaches SABMiller with proposal that would create merged group with a market value of around $275 billion and would bring together AB InBev’s strong position in Latin American markets with that of SABMiller in Africa.
SABMiller rejects an informal takeover offer from Anheuser-Busch InBev of about $100 billion as being too low-Bloomberg.
AB InBev announces proposals for an improved cash offer of 42.15 pounds a share for SABMiller, valuing the shares at about 68 million pounds ($104 billion).
SABMiller promptly rejects the offer, saying the terms, including a lower value shares-and-cash offer designed to appeal to its two biggest shareholders, still “very substantially” undervalues the company.
Reporting by Aashika Jain and Aastha Agnihotri in Bengaluru; Editing by David Holmes, Greg Mahlich