AB InBev makes $104 billion bid for rival brewer SABMiller

7 Oct 2015 | Author: | No comments yet »

European shares up on stronger miners, SABMiller gains.

European shares rose for a fourth straight session to a three-week high on Wednesday, with SABMiller gaining after a revised offer from Anheuser-Busch InBev and miners tracking a rally in prices of key industrial metals. Shares in SABMiller rose 2.8 percent after AB InBev, the world’s biggest brewer, increased its bid for its largest rival to 42.15 pounds per share in cash, valuing SABMiller at nearly 68 billion pounds ($103.63 billion). The STOXX Europe 600 Basic Resources index gained 3.2 percent, the top sectoral gainer, after prices of copper , aluminium and nickel rose 0.5 to 1.2 percent.

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