SABMiller and AB InBev extend takeover deadline to 4 November

SABMiller and Anheuser-Busch InBev have extended the deadline for the Belgium-based company to make a formal takeover offer for the London-listed brewer by a week.

SAB said on Wednesday that it has requested the Panel on Takeovers and Mergers extend the relevant deadline until 1700 GMT on 4 November.

AB InBev, which has offered 4,400p a share for its rival, has now completed its confirmatory due diligence review of SABMiller and reconfirmed the financial and others terms of the possible offer. In addition, it confirmed that it has negotiated facilities that would allow it to fund a takeover at short notice.

SABMiller said the extension was to allow the companies to “continue their discussions with respet to other aspects of the transaction”.