AB InBev makes higher £70bn bid for SABMiller

LONDON: The world's biggest brewer Anheuser-Busch InBev has increased its takeover offer for rival SABMiller to around £70 billion, Sky News reported Monday.

The broadcaster said on its website that AB InBev made a fourth bid to SABMiller's board on Monday, worth the equivalent of about $108 billion or 95 billion euros.

It quoted market sources as saying the offer was "around £43.50" per SABMiller share.

Both companies refused to comment.

Belgian-Brazilian titan AB InBev, which produces Budweiser and Stella Artois lagers, had last week offered $103 billion for the British group that makes Foster's and Grolsch.

But SABMiller rejected it as too low, despite being an improvement on two previous bids.