AB-InBev increases cash offer for SABMiller


LONDON (AP) — Anheuser-Busch InBev has increased its cash offer for SABMiller to 45 pounds ($58.98) per share after pressure from investors who had seen the value of the bid drop as the pound declined following Britain’s vote to leave the European Union.

The maker of Budweiser increased the offer Tuesday by one pound a share, valuing the total transaction at 79 billion pounds.

The pound has declined by more than 10 percent since the June 23 referendum, reducing the value of the cash offer in relation to a cash-and-stock offer designed primarily for AB-InBev’s two largest shareholders.

Since the deal was first announced in the fall, AB-InBev has been working to satisfy regulatory concerns about a merger that will combine the world’s two largest brewing companies.

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