Deal Watch: Beer Battle, Asset Swap Quench Firms' Transactional Thirst
Anheuser-Busch InBev has sidled up with Sullivan & Cromwell in its ongoing effort to merge with alcoholic beverage industry rival SABMiller.
October 08, 2015 at 01:42 PM
6 minute read
Brussels-based Anheuser-Busch InBev S.A./N.V.'s battle continues to swallow London-based SABMiller PLC. Last month, both companies disclosed AB InBev's approach, aimed at striking a deal that would create a beer behemoth worth some $275 billion.
At the time, The Am Law Daily reported that Freshfields Bruckhaus Deringer had secured a role representing AB InBev, with Linklaters and Hogan Lovells advising SABMiller.
While Sullivan & Cromwell's role was initially unclear, the firm's role on behalf of AB InBev has now been confirmed for the company's latest, revised proposal put forth Wednesday for SABMiller, which values the latter at $104 billion (or about $64 per share). AB InBev's target has rejected this proposal—along with two others—publicly stating that each offer has undervalued SABMiller.
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