GFM Network News

SABMiller rejects Labatt owner’s takeover approach

Brussels/London | Reuters –– SABMiller, the world’s second largest brewer, has promptly rejected an improved takeover proposal from Anheuser-Busch InBev, saying its 68 billion-pound (C$136 billion) valuation was “very substantially” under par. Refusal of the offer, made public Wednesday after earlier proposals were refused privately, opens the door to a week of intense wrangling before […] Read more

Labatt owner AB InBev seeks US$275B tie-up with SABMiller

Brussels/London | Reuters — Anheuser-Busch InBev, the world’s largest brewer, has approached rival SABMiller about a takeover that would form a colossus producing a third of the world’s beer. A merged group would have a market value of around US$275 billion (C$363 billion) at current prices, and would combine AB InBev’s dominance of Latin America […] Read more

Big investor urges Smithfield breakup over buyout

Starboard Value LP revealed a major stake in Smithfield Foods on Monday and urged the world’s largest pork producer to explore a breakup rather than go ahead with a planned US$4.7 billion takeover by Chinese meat company Shuanghui International. The activist investor, now Smithfield’s biggest shareholder with a 5.7 per cent stake, said Smithfield might […] Read more

U.S. grain prices set records, more searing heat in forecast

Grain prices set record highs on Friday and weather forecasts showed little to no relief in sight from the worst U.S. drought in more than half a century, feeding worries about food inflation at home and abroad as supplies dwindle in the world’s largest grain exporter. The United Nations’ Food and Agriculture Organization (FAO) said […] Read more