The world’s largest beer maker AB InBev is poised to acquire it’s closest rival SABMiller.
The board of the British-South African company, SABMiller has agreed on the key terms of the revised potential takeover, which values the company at $106 billion.
If the deal goes ahead the new entity will make almost a third of the world’s beer and rank in the top five mergers in corporate history.
SABMiller has a secondary listing in Johannesburg and employs more than 6,400 people in South Africa. There however have been concerns in South Africa over how the takeover will effect the local economy.
South Africa’s National Treasury says it could “in the extreme” try and block the move over tax erosion concerns, while South Africa’s Food and Allied Workers Union says it plans to oppose the acquisition due to job loss concerns.
