This £70bn deal is set to create the world’s largest brewing company

One company could own Peroni, Grolsch, Budweiser, Stella Artois, Corona and many more

If it goes ahead as planned, a £70bn takeover is set to make the world’s largest brewing company.

SABMiller has “in principle” agreed to a takeover offer from Anheuser-Busch InBev of £44 a share – higher than previous offers.

The two companies have been in discussions for some time, but SABMiller rejected four previous offers saying they “very substantially” undervalued the company.

AB InBev is currently the world’s largest brewer, holding more than 20% of the market, while SABMiller has nearly 10% - meaning the new company will be responsible for nearly a third of the market if the deal goes through.

The companies said they had “reached agreement in principle on the key terms of a possible recommended offer”.

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