SABMiller reportedly rejects informal bid from Anheuser-Busch InBev

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MILWAUKEE — SABMiller has reportedly rejected an informal bid from Anheuser-Busch InBev.

Sources told Bloomberg that the offer was for just $100 billion, but SABMiller execs considered that too low.

Bloomberg is also reporting Anheuser-Busch hasn’t made a decision on a final formal offer, and could still walk away from the deal.

Anheuser-Busch InBev announced in September it planned to make an offer to buy SABMiller, which co-owns the Chicago-based MillerCoors joint venture, which has a major brewery and administrative offices in Milwaukee.

A deal between Anheuser-Busch InBev and its smaller rival would create a $245 billion brewing giant and likely face intense antitrust reviews.

Anheuser-Busch InBev reportedly is working with banks to line up $70 billion in financing for the potential takeover bid.

The brewer must either make a bid by October 14th or announce that it does not intend to proceed, according to U.K. takeover regulations.

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