Drinks

SABMiller Name To Disappear As Shareholders Vote On Megabrew Bid

By Steve Wynne-Jones
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SABMiller Plc’s name will disappear after its $104 billion takeover by Anheuser-Busch InBev NV.

AB InBev will retain its name, the Budweiser maker said in a statement Wednesday, after its shareholders approved the beer industry’s biggest-ever acquisition at a meeting in Brussels.

SABMiller shareholders are meeting separately in London Wednesday, and most of them voting by proxy support the takeover, people familiar with the matter said Tuesday.

The bid requires assent from 75 percent of SABMiller shareholders, and its two biggest investors are voting separately after a U.K. court ruling.

News by Bloomberg, edited by ESM. To subscribe to ESM: The European Supermarket Magazine, click here.

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