Global brewer SABMiller has made a takeover approach to the family owners of Heineken that has been rejected, Bloomberg reported on Sunday, citing people with knowledge of the matter. The newswire said SABMiller's approach was made as part of a strategy to protect itself from any potential bid from SAB's larger rival, world No 1 brewer Anheuser-Busch InBev.
A tie-up between SABMiller, which has a market capitalisation of 55 billion pounds ($90 billion), and Heineken, with a market capitalisation of 34 billion euros ($44 billion), would combine the world's second- and third-largest brewers.
SAB and Heinken both declined to comment on the matter. Any potential takeover of Heineken would need the approval of the founding family, which controls the brewer via holding vehicle Heineken Holding.
Bloomberg reported from its sources that the offer would have made the Heineken family one of the largest shareholders in the combined group. The newswire also said that the approach was made in the last two weeks.
SAB, the maker of Miller Lite, Peroni and Grolsch beers is struggling to grow in Europe and North America.