Sector News

AB InBev’s $104bn SAB Miller deal rocked by investor unrest

September 27, 2016
Food & Drink

Anheuser Busch InBev’s (AB InBev’s) proposed £79bn ($104bn) takeover of SAB Miller has been hit by another investor unhappy at what is set to be the biggest deal in British corporate history, according to a report.

Investor Ash Park Capital is thought to have written to other SAB investors last month highlighting that it was likely to vote against the deal and encouraged other investors to follow suit, according to a report in the Sunday Telegraph.

Ash Park Capital is joining two other investors, Aberdeen Asset Management and Swiss firm Vontobel, which are thought to be planning to object to the deal.

Aberdeen Asset Management and Vontobel own around two percent of the shareholding in SAB Miller.

The disclosure of the voting intentions of Ash Park Capital comes ahead of a shareholder meeting on Wednesday this week.

Despite the protest from a number of investors, the deal is expected to be approved.

However, the voting is complicated as shareholders BevCo and Altria Group, which own around 40 percent of SABMiller’s shares, will be hived off into a separate entity from other shareholders when the deal is voted on.

For the deal to be approved, both votes would need approval from 75 percent of shareholders.

The SABMiller board has recommended that shareholders accept the Belgian brewer’s all-cash offer of £45 ($59) a share, an increase from its earlier price of £44 ($58), valuing the London-listed firm at around £79 billion ($104bn).

Source: Food Ingredients First

comments closed

Related News

November 26, 2023

The future of alt-dairy: Givaudan harnesses digital technologies to customize flavor profiles and predict trends

Food & Drink

Consumer behaviors and preferences are evolving rapidly. With macro shifts in society, inflation and food supply challenges set to profoundly influence how people consume food and beverages, Givaudan is exploring what the world of dairy alternatives will look like in the coming decade.

November 26, 2023

Arla Foods Ingredients CEO Henrik Andersen to step down

Food & Drink

After nearly three decades with AFI, Andersen is leaving to pursue a different career path “to work on diverse projects and explore opportunities to serve as board member”. Serving as CEO since 2010, Andersen joined AFI in 1994, initially overseeing applications and R&D. Over the years, he has maintained a strong focus on the whey business.

November 26, 2023

Kraft Heinz appoints five new members to executive leadership team

Food & Drink

The Kraft Heinz Company has introduced five new members to its executive leadership team, who will collaborate with Carlos Abrams-Rivera upon assuming the CEO role in 2024. Pedro Navio will assume the position of North America president at the beginning of next year. In addition, Willem Brandt, Bruno Keller, Cory Onell and Diana Frost will join Abrams-Rivera and Navio on the executive leadership team.

How can we help you?

We're easy to reach