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This Bud's For You: InBev's $103 Billion Takeover Of Rival SABMiller Is Official

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This Bud's For You: InBev's $103 Billion Takeover Of Rival SABMiller Is Official

Anheuser Busch Inbev SA (ADR) (NYSE: BUD)'s $103 billion takeover of rival British-based SABMiller became official on Wednesday.

According to Bloomberg, 95.46 percent of SABMiller's investors approved the deal, exceeding the 75 percent threshold needed for the deal to proceed.

The combined entity won't take on SABMiller's name and only one of SABMiller's executives will transition to the new leadership team.

"AB InBev are paying a full price; they can do with the company what they wish, they can call it what they wish," Bloomberg quoted SABMiller Chairman Jan du Plessis as saying on the sidelines of the shareholder meeting in London. "That's the way life works and that's fine. It is what it is."

Related Link: How To Lose $9 Billion: Be On The Wrong Side Of A Hedging Trade

Bloomberg noted that the merger will give AB InBev easy access to the African market which could help make up for developed markets, such as the United States and Brazil, that have come under pressure. AB InBev also hopes to generate synergies by cutting 3 percent of the enlarged company's workforce.

The takeover is expected to be completed on October 10 and SABMiller's London-listed stock will cease trading on October 4.

Shares of AB InBev were trading slightly higher by 0.44 percent at $132.46 early Wednesday morning.

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