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Johannesburg - Shares in SABMiller [JSE:SAB], the second biggest company on the JSE and the world second biggest brewer, jumped 12% on Monday following a report in the Wall Street Journal saying that larger rival Anheuser-Busch InBev was talking to banks about financing a possible $122bn takeover bid.
The newspaper, citing a person familiar with the matter, said AB InBev was not in active discussions with SABMiller, saying it was waiting to line up financing before making a formal approach.
AB InBev, maker of Budweiser and Stella Artois, and SABMiller, maker of Peroni and Grolsch, were not immediately available for comment.
Shares in SABMiller jumped 13% to an all time high on Monday after the
report in the Wall Street Journal.
The report comes a day after Dutch brewer Heineken said it had been approached by SABMiller about a potential takeover but that its controlling shareholder intended to keep the company independent.
Several analysts saw SABMiller's move as an attempt to head off a takeover from AB InBev, or a way for SABMiller to possibly force the larger company into action.
"If the wheels are not yet in motion on another brewing mega-deal, they may be now as SABMiller may have thrown down the gauntlet," said Grupo Santander analysts in a research note.
Speculation about AB InBev's desire for SABMiller has been circling for years, with the chatter intensifying in recent months and again in the last week.
SABMiller shares were up 13% at 3 823 pence at 13:30 GMT in London,
while AB InBev shares were up 3% in Brussels and Heineken shares were up
2.4% in Amsterdam.
