AB InBev Offer for SABMiller Likely Won’t Happen This Yr: ISI
2014-09-15 19:13:52.129 GMT
By Joshua Fineman
Sept. 15 (Bloomberg) -- If AB InBev were actively
considering a deal for SABMiller, U.K. takeover panel would
require disclose by ABI BB and/or SAB, ISI analyst Robert
Ottenstein told clients in earlier note, citing conversation
with member of takeover panel.
* Potential deal not “off the table,” may happen in next 3-6
mos; ISI previously said 50% chance a deal occurs by end of
2015
* ABI BB rated buy; still expects large purchase by end of
2015, most likely SAB LN; Molson Coors trated buy, though
may drop in N-T; sees $2.20 of accretion to ISI’s 2015 est.
if TAP bought rest of MillerCoors; TAP may be worth ~$95 in
mid 2015 (26% upside)
* Maintains buy on SAB LN, though may be hurt if no strategic
transaction
* NOTE: Earlier, AB InBev Not in Talks to Finance SABMiller
Purchase: CNBC; AB InBev Talking to Banks About Financing
SABMiller Deal: DJ
* Earlier, SABMiller Spurned by Heineken Family After
Making Approach
* NOTE: Increased Chance Anheuser-Busch Bids for SABMiller:
Stifel
* BUD up as much as 3.6%, most intraday since July 31; TAP up
as much as 8.3%, most since May 2009; SAB LN closed up 9.8%,
most since Oct. 2011
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To contact the reporter on this story:
Joshua Fineman in New York at +1-212-617-8953 or
jfineman@bloomberg.net
To contact the editor responsible for this story:
Arie Shapira at +1-212-617-1488 or
ashapira3@bloomberg.net
2014-09-15 19:13:52.129 GMT
By Joshua Fineman
Sept. 15 (Bloomberg) -- If AB InBev were actively
considering a deal for SABMiller, U.K. takeover panel would
require disclose by ABI BB and/or SAB, ISI analyst Robert
Ottenstein told clients in earlier note, citing conversation
with member of takeover panel.
* Potential deal not “off the table,” may happen in next 3-6
mos; ISI previously said 50% chance a deal occurs by end of
2015
* ABI BB rated buy; still expects large purchase by end of
2015, most likely SAB LN; Molson Coors trated buy, though
may drop in N-T; sees $2.20 of accretion to ISI’s 2015 est.
if TAP bought rest of MillerCoors; TAP may be worth ~$95 in
mid 2015 (26% upside)
* Maintains buy on SAB LN, though may be hurt if no strategic
transaction
* NOTE: Earlier, AB InBev Not in Talks to Finance SABMiller
Purchase: CNBC; AB InBev Talking to Banks About Financing
SABMiller Deal: DJ
* Earlier, SABMiller Spurned by Heineken Family After
Making Approach
* NOTE: Increased Chance Anheuser-Busch Bids for SABMiller:
Stifel
* BUD up as much as 3.6%, most intraday since July 31; TAP up
as much as 8.3%, most since May 2009; SAB LN closed up 9.8%,
most since Oct. 2011
For Related News and Information:
First Word scrolling panel: FIRST<GO>
First Word newswire: NH BFW<GO>
To contact the reporter on this story:
Joshua Fineman in New York at +1-212-617-8953 or
jfineman@bloomberg.net
To contact the editor responsible for this story:
Arie Shapira at +1-212-617-1488 or
ashapira3@bloomberg.net