Post by raselali on Oct 8, 2015 2:07:01 GMT
Shares closed down 3.7% amid media reports that the Peroni, Coors and Grolsch maker is planning to resist takeover
Shares in SABMiller have fallen amid speculation that the London-listed brewer is likely to reject a takeover offer from rival Anheuser-Busch Inbev.
The shares closed down 3.7% as the New York Post reported that SABMiller, whose brands include Peroni, Bullmers, Coors and Grolsch, was “leaning towards fighting” the expected offer. Anheuser-Busch Inbev, whose brands include Budweiser, Stella Artois, Corona and Beck’s, has until 14 October to table a formal bid.
SABMiller brought forward a trading statement to highlight improved revenue growth as the bid deadline approached. It said trade had picked up in the three months to 30 September as it sold more lager in Africa and Latin America.
Revenue minus excise duties and similar taxes rose 6% in the second quarter; growth in the first half of the year had been 4%. However, reported revenue including currency swings fell 9% as currencies in its main markets, such as South Africa, weakened against the US dollar.
The world’s second-largest brewer said it published its trading update early to provide information as soon as possible during AB InBev’s offer period. The company said the figures showed it had a strong future with or without a merger, in a move apparently designed to put pressure on the Belgium-based firm.
Shares in SABMiller have fallen amid speculation that the London-listed brewer is likely to reject a takeover offer from rival Anheuser-Busch Inbev.
The shares closed down 3.7% as the New York Post reported that SABMiller, whose brands include Peroni, Bullmers, Coors and Grolsch, was “leaning towards fighting” the expected offer. Anheuser-Busch Inbev, whose brands include Budweiser, Stella Artois, Corona and Beck’s, has until 14 October to table a formal bid.
SABMiller brought forward a trading statement to highlight improved revenue growth as the bid deadline approached. It said trade had picked up in the three months to 30 September as it sold more lager in Africa and Latin America.
Revenue minus excise duties and similar taxes rose 6% in the second quarter; growth in the first half of the year had been 4%. However, reported revenue including currency swings fell 9% as currencies in its main markets, such as South Africa, weakened against the US dollar.
The world’s second-largest brewer said it published its trading update early to provide information as soon as possible during AB InBev’s offer period. The company said the figures showed it had a strong future with or without a merger, in a move apparently designed to put pressure on the Belgium-based firm.