Anheuser-Busch InBev and SAB Miller said on Tuesday they had agreed terms for a takeover, with the world's largest brewer set to pay 44 pounds (US$68) per share in cash for its smaller rival.
After days of wrangling over price, the two firms said they had now agreed the terms in principle, with the price representing a premium of around 50% to SABMiller's closing price on Sept 14.
There is also an option for investors to take shares.
Under the terms of the deal, AB InBev would agree to a reverse break fee of US$3 billion payable to SABMiller should the transaction fail due to regulatory hurdles or if AB InBev shareholders don't approve it.
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After days of wrangling over price, the two firms said they had now agreed the terms in principle, with the price representing a premium of around 50% to SABMiller's closing price on Sept 14.
There is also an option for investors to take shares.
Under the terms of the deal, AB InBev would agree to a reverse break fee of US$3 billion payable to SABMiller should the transaction fail due to regulatory hurdles or if AB InBev shareholders don't approve it.
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