Another extension has been granted to SABMiller and Anheuser-Busch InBev in their attempt to reach an agreement on the terms of a possible takeover deal.
According to a report from The New York Times, the two companies reached an agreement in principle on Oct. 13, determining that Anheuser-Busch would acquire SABMiller for approximately $104 billion. This is the third time the deadline for this deal has been extended. The Panel in Takeovers and Mergers in Britain has now extended the deadline to Nov. 11.
The New York Times reported that the most recent terms of the deal state that Anheuser-Busch will pay $67.81 per share for SABMiller, which presents more than a 50% premium to SABMiller’s mid-September closing price.
If the merger is completed it will face a great deal of regulatory scrutiny. The brewers may be required to sell off some assets where they overlap, including the U.S.