UPDATE: Most SABMiller Proxy Votes Said to Back AB InBev (BUD) Takeover Bid - Bloomberg
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.
(Updated - September 27, 2016 8:45 AM EDT)
Most SABMiller investors voting by proxy supported AB InBev's (NYSE: BUD) takeover bid, an early indication that the deal will go forward, according to Bloomberg, citing people familiar with the matter.
The report noted that the bid requires approval from 75% of SABMiller shareholders, excluding its two biggest investors who aren't voting. Additional votes and votes from hedge funds that lobbied against the deal are expected during the meeting.
Sourced told Bloomberg that most investors voted by proxy.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: Schneider Electric Denies Rumours on a Possible Offer on Rockwell Automation (ROK)
- TD Ameritrade (AMTD) to Acquire Scottrade in $4B Cash & Stock Deal
- ChemChina Didn't Make Early-Stage EU Concessions by Deadline for Syngenta (SYT) Takeover - Bloomberg
Create E-mail Alert Related CategoriesHot M&A, Mergers and Acquisitions, Rumors, Trader Talk
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!