Anheuser-Busch InBev makes takeover approach for SABMiller
LONDON (AP) - Beer and soft drink maker Anheuser-Busch InBev has confirmed it has made a takeover approach to rival SABMiller plc.
In announcements Wednesday, the companies say no specific offer has been made.
The statement said: "AB InBev's intention is to work with SABMiller's Board toward a recommended transaction. There can be no certainty that this approach will result in an offer or agreement, or as to the terms of any such agreement."
SABMiller said it "would review and respond as appropriate to any proposal which might be made."
Shares in SABMiller rocketed 22 percent higher on the news.