Anheuser-Busch InBev NV has raised its SABMiller takeover offer to GBP67 billion ($103 billion) from its previous proposal of roughly GBP65 billion.
AB InBev is offering SABMiller’s shareholders GBP43.50 a share in cash — or a 48% premium to the company’s closing price on September 14.
The proposed bid also offers a partial share alternative for 41% of the stock, a combination of cash and stock translating into a lower per-share price of 38.88.
UK rules state that AB InBev has until Wednesday to make a firm offer for SABMiller or walk away for at least six months. An extension can be granted if SABMiller requests it.
SABMiller has, so far, shown no signs of capitulating to AB InBev’s advances. The company clams that AB InBev’s last three offers severely undervalued the company.
SABMiller and AB InBev have not returned requests for further information.