Heineken unimpressed by SAB Miller overture

15 September, 2014

The Heineken family has rejected a takeover approach from SAB Miller for the Dutch brewery to which they give their name.

Responding to weekend speculation in the US press, the Heineken company confirmed that it had been approached by SAB Miller regarding a “potential acquisition”.

It added that: “Heineken has consulted with its majority shareholder and concluded that SAB Miller’s proposal is non-actionable”

The Heineken family, which retains a majority interest in the company, said it wanted to “preserve the heritage and identity of Heineken as an independent company”.

The Heineken statement went on: “The Heineken family and Heineken’s management are confident that the company will continue to deliver growth and shareholder value.”

SAB Miller has made no public comment on its approach which was an attempt to add brands such as Heineken, Srongbow, Sol, Amstel and Desperados to its own portfolio including Miller Genuine Draft, Peroni, Pilsner Urquell, Grolsch and Tyskie.

SAB Miller’s London Stock Exchange share price was up 5.3% on Monday morning on news of its growth ambitions.

Heineken shares in Amsterdam rose 1.6%.

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