Jeremy Steinberg
All posts from Jeremy Steinberg
Jeremy Steinberg in Deals, M&A and more!,

Heineken rebuffs SABMiller overture


Dutch brewer Heineken NV HEIA, +1.41% HEINY, -2.31% said Sunday that U.K.-based rival SABMiller PLC SAB, +5.12% SBMRY, -0.35% has approached it about being acquired, but that Heineken’s controlling family intends to keep the company independent.

“Heineken has consulted with its majority shareholder and concluded that SABMiller’s proposal is nonactionable,’’ Heineken said in a written statement.

The Amsterdam-based company, the world’s third-largest brewer by volume, added in the statement that the controlling Heineken family has informed SABMiller “of its intention to preserve the heritage and identity of Heineken as an independent company.’’

An SABMiller spokeswoman in London declined to comment on Heineken’s statement.

Bloomberg reported earlier Sunday that SABMiller, the world’s second-largest brewer, had approached Heineken in the last two weeks about a potential acquisition but had been rebuffed.

via marketwatch