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AB InBev urges investors not to let SABMiller thwart bid

Reuters - UK Focus

BRUSSELS, Oct (HKSE: 3366-OL.HK - news) 8 (Reuters) - Anheuser-Busch InBev Chief Executive Carlos Brito urged shareholders of SABMiller (Amsterdam: MI8.AS - news) on Thursday to see the value of its 68 billion pound ($104 billion) takeover proposal and not let the UK-based rival's board thwart its advances.

In a formal response to SABMiller (Xetra: BRW1.DE - news) , and echoing comments made on Wednesday, AB InBev said the SABMiller board's view that the proposal "very substantially undervalues" the brewer lacked credibility.

"How long will it be before shareholders see a value of over 42 pounds in the absence of an offer from AB InBev?" Brito said in a statement.

"If shareholders agree that we should be in proper discussions, they should voice their views and should not allow the board of SABMiller to frustrate this process and let this opportunity slip away." ($1 = 0.6520 pounds) (Reporting By Philip Blenkinsop)