SABMiller CEO denies Heineken approach was intended to deter Anheuser-Busch InBev bid
SABMiller’s recently rejected takeover approach to Heineken was not intended to pre-empt any bid from rival brewer Anheuser-Busch InBev, the chief executive of SABMiller said. The Times reported that CEO Alan Clark dismissed any suggestion that the UK-headquartered drinks giant was moving to fend off a potential approach from Belgium-based Anheuser-Busch InBev.
Speaking at a London investor seminar, Clark also defended the Heineken approach as normal strategy for SABMiller, the item reported. He said that situation was only unusual because news of the negotiations was leaked, leading Heineken to announce its rejection of SABMiller.
SAB is always looking at potential opportunities and some may take years to happen, while others might come to nothing, the CEO said.
SABMiller has a GBP 54.1bn (USD 86.8bn) market cap.
Source The Times