AB InBev, SABMiller shareholders approve merger

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ST. LOUIS (KPLR) - Anheuser Busch InBev’s takeover of rival SABMiller has cleared its final major hurdle this morning after shareholders from both companies approved the deal.

The investor votes appear to seal the deal between the world’s two biggest brewers. AB InBev saying that this merger will create “the first truly global brewer.”

AB InBev is buying SABMiller for around $103 billion.

Shareholders from AB InBev approved the deal first this morning in Belgium then SABMiller investors gave a thumbs up at a meeting in London. Under the deal, the combined group will retain the name of Anheuser Busch InBev.

AB InBev said back in August that St. Louis will remain the North American headquarters under the new company set-up.

There was some opposition to the buyout from SABMiller investors who saw their payouts shrink after Britain’s exit from the European Union.

AB InBev sweetened its offer in July after that took place but some SABMiller investors continued to oppose the deal. But ultimately SABMiller shareholders voted to approve the buyout.

The deal will create the world’s largest beer company producing nearly a third of the world’s beer.

In a statement, AB InBev CEO Carlos Brito said the new company will be “committed to driving long-term growth and creating value for all our stakeholders.”

Final approval is set for October 10.