Grolsch owner SABMiller rejects takeover offer as too low

train stationThe owner of Dutch brewing company Grolsch has rejected a takeover offer from the world’s biggest beer company, Anheuser-Busch InBev.

SABMiller said the offer of £42.15 a share ‘still very substantially undervalues SABMiller, its unique and unmatched footprint, and its stand-alone prospects’.

SABMiller’s largest shareholder, American tobacco firm Altria, said it would support a deal at the proposed price.

British-South African brewing group SABMiller bought Grolsch for €816m at the end of 2007. Any takeover would need to be approved by the regulatory authorities.

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