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World|business|September 15, 2014 / 03:47 PM
Heineken rejects SABMiller takeover offer

AKIPRESS.COM - heineken SABMiller has made an offer to buy Heineken in a deal that would shake up the brewing world and defend it against a possible takeover from its much-larger rival, Anheuser-Busch InBev (ABI), reports Bloomberg.

The Heineken family, which owns a controlling interest in the Amsterdam-based group, has rejected the FTSE 100 group’s offer to combine the world’s second and third-largest brewers. SABMiller, the owner of Peroni, Grolsch and Coors, has long been a purported bid target for Belgium’s ABI, the world’s biggest brewer, although it has not received any offer.

Any deal would mark a further consolidation of the industry following the $52bn merger of Anheuser-Busch and InBev that created ABI in 2009. The size of SABMiller’s bid for Heineken is unknown, but the group has a stock market value of around €34bn (£27bn).

However, the Heineken founding family said it was unwilling to lose control of the group. The family owns a majority share in a holding company that itself owns 50pc of the Dutch brewer, giving it control of the group despite not having a majority stake.

Heineken said in a statement: "The Heineken family has informed SABMiller, Heineken and Heineken Holding of its intention to preserve the heritage and identity of Heineken as an independent company. The Heineken family and Heineken's management are confident that the company will continue to deliver growth and shareholder value."

Heineken, whose other products include Sol, Tiger and Strongbow, has struggled with sales declines in Europe while SABMiller has continued to grow in its key emerging markets, but has seen something of a rebound in recent months.

SABMiller has also been rumoured to be considering a tie-up with Diageo, the multinational drinks group behind Guinness and Smirnoff, in order to ward off interest from ABI.

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