LONDON-- SABMiller PLC said on Monday that it had approached
Heineken NV last month as part of its normal expansion strategy,
not as a defensive measure against a takeover bid from rival
Anheuser-Busch InBev NV.
Chief Executive Alan Clarke said SABMiller's approach to
Heineken was "assertive, not defensive" and that there was
"absolutely no truth" in the claim that it had been part of a ploy
to ward off a bid from AB InBev, the world's biggest brewer by
sales.
Heineken said last month it had rejected a takeover approach
from SABMiller, saying that the controlling family wants the Dutch
brewer to remain independent. The Heineken family controls just
over 50% of the voting shares and a minority equity stake in
publicly traded Heineken. Heineken's stock-market capitalization is
about $44 billion.
A combined Heineken-SABMiller would be roughly as large as AB
InBev, making it harder for Belgium's AB InBev to acquire either
company. But Mr. Clarke said SABMiller often discussed potential
deals with its rivals, with the conversations frequently being
highly informal.
"For SAB to be engaged in conversations about [mergers and
acquisitions] is not unusual," he said. "These conversations
sometimes go on for years."
SABMiller's shares have gained almost 9% this year on
speculation of a round of consolidation among the biggest players
in the beer industry. AB InBev had a nearly 20% share of the global
beer market in 2013, according to data service Euromonitor. It is
trailed by SABMiller, with a 9.6% share, and Heineken, with a 9.3%
share.
Mr. Clarke said SABMiller would focus on its own growth by
increasing the appeal of its brands to women and by trying to
convince consumers to choose beer over wine and spirits.
"We have a long-term vision to push out the boundaries of the
beer category, appealing to more consumers on more occasions," he
said.
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