SABMiller reportedly rejects informal offer from AB InBev

SABMiller has reportedly rejected an informal takeover offer from Anheuser-Busch InBev that it considered too low.

According to Bloomberg, the initial proposal to the brewer made last week was worth slightly over £40 a share, falling short of the £45 the company’s executives and shareholders deem to be fair value.

Bloomberg cited a person familiar with the matter as saying that SABMiller communicated to AB InBev the terms at which it would be willing to negotiate after the rejection.

No final decision has been made on a potential formal offer, and it’s still possible the Belgian producer of Budweiser and Stella Artois may walk away from a deal.

At 1122 BST, SABMiller shares were down 3.6% at 3,630p.