Budweiser Raises Bid For SABMiller Again

The world's largest brewer has increased its offer for rival SABMiller - for a third time.

Anheuser-Busch InBev, which makes Budweiser, Stella Artois and Corona, released a statement confirming its new bid of 42.15p-per-share in a move which reflected frustration in its dealings with SAB to date.

It said it was disappointed its two prior offers were turned down by the FTSE 100 company.

The latest all-cash bid valued SAB at £68.1bn - a premium of 44%.

AB InBev said it believed the offer would be attractive to shareholders as it wanted to "build the first truly global beer company."

A merged group would give AB InBev access to markets in Africa, Latin America and Asia.

SABMiller was yet to comment on the latest offer but its largest shareholder, Altria Group, said it supported a deal - piling pressure on the company's board.

It said: "Altria urges SABMiller's board to engage promptly and constructively with AB InBev to agree on the terms of a recommended offer.

SAB's shares were 3% higher in the first hour of trading on Wednesday.