AB InBev courting SABMiller to form $270B drinks giant

SABMiller confirmed Belgian brewing giant Anheuser-Busch InBev has informed the United Kingdom company it intends to acquire it.

The combined company would have a market value of around $270 billion. Shares of both companies rose on the news.

AB InBev, the world's largest brewer by volume, is known for such beers as Budweiser and Bud Light. The No. 2 brewer in terms of sales, SABMiller's brands include Fosters, Grolsch, Peroni and Pilsner Urquell. It also has a stake in MillerCoors.

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