Dutch brewing company, Heineken has turned down an offer for the company from London brewing company, SABMiller.
In a short statement released on Heineken’s website, the company said the offer from SABMiller was “non-actionable”.
It’s believed the takeover attempt was made due to growing speculation that SABMiller, the world’s second largest brewing company, was facing its own takeover threat from the world’s number one brewer Anheuser-Busch InBev.
However, Heineken said it would not be drawn into takeover discussion, stating its intention to “preserve the heritage” of the company.
“Heineken has consulted with its majority shareholder and concluded that SABMiller’s proposal is non-actionable,” the statement said.
“The Heineken family has informed SABMiller, HEINEKEN and Heineken Holding N.V. of its intention to preserve the heritage and identity of HEINEKEN as an independent company. The Heineken family and Heineken N.V.’s management are confident that the Company will continue to deliver growth and shareholder value.”
Heineken is the world’s third largest brewing company, also producing the Sol brand of beer and Strongbow and Bulmer’s ciders.
However, since Monday, ongoing discussions have taken place which suggested continued merger discussions. SABMILLER’s value on the JSE ballooned by R94bn to R1.08-trillion on Monday following reports the company may look at consolidation options with Heineken.
