Beer Giants Ab Inbev And Sabmiller Agree Takeover Terms

The world's two biggest beer producers are set to merge after SABMiller accepted an increased takeover offer from rival Anheuser-Busch InBev. ABMiller said it had agreed "in principle" a £44-a-share offer, after four previous attempts from AB InBev. AB InBev's brands include Budweiser, Stella Artois and Corona, while SABMiller produces Peroni and Grolsch. If the deal, worth about £70bn, goes ahead, the newly-created firm will make about 30% of the world's beer. SABMiller has a workforce of close to 70,000 people in more than 80 countries, and global annual sales of more than $26bn. AB InBev has a workforce of 155,000 and global revenues of more than $47bn.