SABMiller’s board on Wednesday moved to calm shareholder disquiet among activist investors who would like to seek a better share offer from AB InBev.
When AB InBev agreed to acquire SABMiller in November, the agreed upon price was £44 ($57.79) per share for most shareholders. However, two major shareholders, tobacco giant, Altria Group and the BevCo Limited Investment arm of Colombia’s Santo Domingo family were offered partial-share alternative of 41% of stock. Essentially, it is a combination of cash and unlisted stock, which has translated into a lower per share price of £41.85.