Anheuser-Busch InBev SA (BUD) has made strides toward a takeover of Miller Genuine Draft maker SABMiller plc with its latest offer, which values the target’s equity at a record-breaking ‘£71.2 billion ($109.4 billion). This deal would see the world’s largest brewer acquire its next-largest peer, and that would likely require divestitures for antitrust reasons. According to The Deal’s Renee Cordes, the main antitrust risks are likely to be in the U.S. and China, where regulators may demand the disposal of SABMiller’s stake in Chicago-based MillerCoors LLC, its joint venture with Molson Coors Brewing Co. (TAP), as well as SABMiller’s 49% stake in its China Resources Snow Breweries Ltd. joint venture with China Resources Enterprise Ltd. AB InBev is also reportedly under investigation from the U.S. Justice Department over its distribution power. The Deal’s Senior Reporter Lisa Allen has the details from New York.
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