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SABMiller talks up own potential with new cost-savings goal

A woman carries beer produced by brewing company SAB Miller past kegs at a bar in Cape Town, September 16, 2015.

Brewer SABMiller Plc, facing an unsolicited $100 billion takeover offer from Anheuser-Busch InBev, announced an expanded cost-savings plan on Friday, aiming to show how much value it can generate in the next five years by going it alone.

The latest statement from the world's second-largest brewer was seen as an attempt to fetch a higher price than the 42.15 pound-per-share proposal it has already rejected as too low.

On a day the chief executives of both companies were meeting with SAB shareholders to plead their cases, SAB said it now expects to reach annualized cost savings of at least $1.05 billion by 2020. The prior target of its savings and efficiency...


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