Dive Brief:
- SABMiller, looking to ward off a possible takeover by AB InBev, approached Heineken recently and offered to buy the Dutch brewer. The story was first reported by Bloomberg News.
- Last night Heineken confirmed that an offer had been made, but that the independently owned brewer had no interest in selling.
- If the deal had gone through, it would have nearly doubled SABMiller's market size.
Dive Insight:
This move by SABMiller is seen as an attempt to increase the brewer's market value, making an acquisition by its rival AB InBev more difficult. SABMiller is likely to buy something else soon: Clearly it has the cash and the willingness.