Brussels/London | Reuters –– The world’s two biggest brewers agreed on Tuesday to create a company making almost a third of the world’s beer after SABMiller received an improved offer worth more than C$130 billion from larger rival Anheuser-Busch InBev. If it goes through, the deal would rank in the top five mergers in corporate
Labatt’s owner wins over SABMiller at fifth attempt
Labatt owner ups offer for SABMiller as deadline looms
Reuters — Anheuser-Busch InBev raised its proposed takeover offer for SABMiller on Monday, as the world’s largest brewer tries to win over its smaller rival to the idea of creating a giant that would make nearly a third of the world’s beer. The owner of the Budweiser, Labatt and Alexander Keith’s brands said it would
SABMiller rejects Labatt owner’s takeover approach
Brussels/London | Reuters –– SABMiller, the world’s second largest brewer, has promptly rejected an improved takeover proposal from Anheuser-Busch InBev, saying its 68 billion-pound (C$136 billion) valuation was “very substantially” under par. Refusal of the offer, made public Wednesday after earlier proposals were refused privately, opens the door to a week of intense wrangling before
Labatt owner AB InBev seeks US$275B tie-up with SABMiller
Brussels/London | Reuters — Anheuser-Busch InBev, the world’s largest brewer, has approached rival SABMiller about a takeover that would form a colossus producing a third of the world’s beer. A merged group would have a market value of around US$275 billion (C$363 billion) at current prices, and would combine AB InBev’s dominance of Latin America
Nestle says taking action to keep top slot in food industry
London | Reuters — Nestle told shareholders Thursday it is taking steps to maintain its position at the head of the global food industry, where consolidation will create two big new rivals. Nestle chairman Peter Brabeck-Lemathe told the company’s annual shareholder meeting the creation of Kraft Heinz Co. and Jacobs Douwe Egberts, as well as
Big investor urges Smithfield breakup over buyout
Starboard Value LP revealed a major stake in Smithfield Foods on Monday and urged the world’s largest pork producer to explore a breakup rather than go ahead with a planned US$4.7 billion takeover by Chinese meat company Shuanghui International. The activist investor, now Smithfield’s biggest shareholder with a 5.7 per cent stake, said Smithfield might
U.S. grain prices set records, more searing heat in forecast
Grain prices set record highs on Friday and weather forecasts showed little to no relief in sight from the worst U.S. drought in more than half a century, feeding worries about food inflation at home and abroad as supplies dwindle in the world’s largest grain exporter. The United Nations’ Food and Agriculture Organization (FAO) said
PepsiCo Partnership To Boost Ethiopian Chickpeas
PepsiCo Inc., best known for its cola and Lays potato chips, is now setting its sights on chickpeas. The company is teaming up with the U.S. Agency for International Development to boost the production of chickpeas in Ethiopia by working with small farmers. The plan is then to help develop local businesses that use the
ADM profit soars on higher prices
Archer Daniels Midland Co. reported a quarterly profit that beat Wall Street forecasts by a wide margin, helped by higher selling prices for foods like corn syrup and hedging gains on raw material costs. Shares of ADM, one of the largest U. S. food processors and ethanol producers, shot up as much as 22 per
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