World's two largest beer companies, AB InBev and SABMiller, agree to merge

Early Tuesday, SABMiller agreed to a sweetened takeover offer from larger rival Anheuser-Busch InBev, in a deal that values No. 2 global brewer SABMiller at $104.5 billion. SABMiller's board agreed to unanimously recommend the deal to shareholders after rejecting four previous offers in recent weeks. If the merger passes regulatory scrutiny, the combined company will sell more than 30 percent of the world's beer, combining brands like AB InBev's Budweiser, Corona, and Stella Artois with SABMiller's Pilsener Urquell, Miller, Coors, Grolsch, and Peroni, plus lots of smaller and local brands. If AB InBev can't get regulatory clearance or its shareholders reject the terms, it has to pay SABMiller $3 billion.

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