Tags: EU | Britain | Beer Merger

UK Court sides with Small Shareholders on Beer Merger

Tuesday, 23 August 2016 07:56 AM EDT

LONDON (AP) — A British court has recommended that two classes of shareholders be created and vote separately on AB InBev's 79 billion pound ($104 billion) takeover of SABMiller.

The move is seen as a concession to smaller shareholders who saw their return on the deal plummet after the pound fell after Britain's vote to leave the European Union.

SABMiller's board has accepted, in principle, to the deal that would create a company controlling nearly a third of the global beer market.

But Aberdeen Asset Management, among other smaller investors, demanded a say. Some 75 percent of the smaller shareholders must approve the deal for it to go forward. Two big shareholders receiving a cash-and-stock option, U.S. tobacco company Altria and BevCo, an investment vehicle of the Santo Domingo family, have already approved.

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Europe
A British court has recommended that two classes of shareholders be created and vote separately on AB InBev's 79 billion pound ($104 billion) takeover of SABMiller.The move is seen as a concession to smaller shareholders who saw their return on the deal plummet after the...
EU,Britain,Beer Merger
132
2016-56-23
Tuesday, 23 August 2016 07:56 AM
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