Bid speculation sent brewer SABMiller surging today amid investor hopes of an approach from Stella Artois maker InBev.
SAB – the firm behind brands such as Peroni, Pilsner Urquell and Miller Genuine Draft – has been mooted as a target for InBev if its reported $46bn (€29bn) plans to buy Budweiser brewer Anheuser-Busch fails.
Shares in SAB were more than 7% higher at one stage as weekend reports of informal discussions over a tie-up with InBev sparked excitement over consolidation in the sector.
Blue Oar analyst Bruce Davidson said that the Busch family were likely to resist an InBev approach although they only hold a 4% stake in the business.
“If Anheuser-Busch does rebut InBev then the attention will turn to plan B, which is what we are seeing this morning.”