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New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
Shares of Anheuser Busch Inbev SA (ADR) (NYSE: BUD) traded up roughly 2.75 percent on Tuesday afternoon, after the European Commission, the European Union’s antitrust agency, granted antitrust approval of its SABMiller plc (ADR) (OTCMKTS:SBMRY) acquisition, under the condition that the latter divests almost all of its European beer assets.
As one might expect, Anheuser Busch Inbev agreed to sell SABMiller’s businesses in Czech Republic, Hungary, Poland, Romania and Slovakia, in order for one of the largest transactions in corporate history (expected to surpass $100 billion) to go through. According to people familiar with the issue, AB Inbev will vend SABMiller’s Peroni, Grolsch and Meantime brands to Japan's Asahi Group Holdings Ltd for roughly $2.9 billion; the company still needs to find buyers for SABMiller’s remaining European assets.
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Already the largest beer company in the world, AB Inbev will control roughly one third of the global beer market after the merger. According to experts’ calculations, the firm should sell double the amount of beer than its closest rival, Heineken N.V. (OTCMKTS:HINKY).
However, it should be noted that, while the EU, Australia and South Africa have already approved the merger, antitrust authorities in the United States and China are yet to give their blessing for the union.
Disclosure: Javier Hasse holds no positions in any of the securities mentioned above.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.