Screeech….Mega-Merger on Hold
The “Mega-Merger seems to have come to a screeching halt.
AB InBev’s takeover bid for SABMiller has apparently been suspended after shareholders have said the deal is no longer solid after the pound’s recent Brexit plunge.
The “integration” process to merge the operations of the two breweries together which begun some time ago has been halted.
SABMiller investors oppose terms that they say are no longer fair and equitable since the the Brexit devalued the British pound. AB InBev nudged up its bid earlier this week to compensate, but not enough to satisfy major shareholders.
The merger is on hold pending further negotiations which have yet to be scheduled.
