UPDATE: Most SABMiller Proxy Votes Said to Back AB InBev (BUD) Takeover Bid - Bloomberg

September 27, 2016 8:37 AM EDT

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(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.

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