SABMiller puts AB InBev integration work on ice - report

27th Jul 2016 18:06

(ShareCast News) - SABMiller's management has reportedly placed work on integrating its operations with that of would-be suitor Anheuser-Busch InBev NV on ice for the time being.SABMiller apparently sent the request to employees, reported Bloomberg, citing a person familiar with the matter.Its move followed AB InBev hiking its cash bid for the British brewer to account for sterling's dive in the wake of the non-binking UK referendum to quit the European Union.Investors such as Aberdeen Asset Management have said AB InBev's revised proposal undervalued SABMiller and thus remained unacceptable as shareholders, who were not being treated equally.The British brewer's directors said on Tuesday they would consult shareholders about AB InBev's new offer, thereafter making an announcement.