Anheuser-Busch InBev Response to SABMiller Announcement
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AB InBev SA (BUD) Issues Response to SABMiller; Refutes Allegations That Deal Undervalues Company
October 8, 2015 6:47 AM EDTAnheuser-Busch InBev SA (NYSE: BUD)otes the announcement from the Board of SABMiller plc rejecting AB InBev's proposal of GBP 42.15 per share in cash, with a partial share alternative.
AB InBev is surprised that the Board of SABMiller (excluding the directors nominated by SABMiller's largest shareholder, Altria Group, Inc., who dissented) continues to say that this proposal "still very substantially undervalues SABMiller".
This lacks credibility because:
The cash proposal represents a premium of approximately 44% to SABMiller's closing share price of GBP 29.34 on 14th September 2015 (being the last... More