Grolsch owner SABMiller target of AB InBev $250 billion takeover plan

Brewer Anheuser-Busch InBev has approached SABMiller with a takeover plan that would create a combined company with a market value about 250 billion dollars. This takeover would merge two of the largest beer brewers in the world. SABMiller announced in a stock market statement that it was approached by AB InBev. AB Inbev informed SABMiller that it intends to make a takeover proposal, but no bid has been received as of yet, The Guardian reports. Following this announcement, shares in SABMiller increased by more than 22 percent, and AB InBev shares rose 11 percent. AB InBev is the owner of Budweiser and Stella Artois. The company is listed in Brussels and New York. SABMiller is the owner of many brands including Peroni, Grolsch and the British craft beer Meantime. The company is listed in London and South Africa and employs about 69,000 people. In a statement SABMiller said: "The board of SABMiller notes the recent press speculation and confirms that Anheuser-Busch InBev has informed SABMiller that it intends to make a proposal to acquire SAB Miller. No proposal has yet been received and the board of SABMiller has no further details about the terms of any such proposal. The board of SABMiller will review and respond as appropriate to any proposal which might be made." AB InBev confirmed that it made an approach and wants to work with SABMiller on a deal: "AB InBev confirms that it has made an approach to SABMiller's board of directors regarding a combination of the two companies. AB InBev's intention is to work with SABMiller's board toward a recommended transaction."