NEW YORK (TheStreet) -- Anheuser-Busch InBev (BUD) - Get Report  stock is surging 5.33% to $113.80 on heavy trading volume after the the world's largest brewer said today that it is planning to make an offer to acquire London-based beer maker SABMiller (SBMRF) , making it the biggest acquisition in brewing industry history, The Wall Street Journal reports. 

There is no specific offer yet, but the maker of Budweiser and Corona intends to "work with SABMiller's Board toward a recommended transaction," according to AB InBev's statement.

The company has until October 14 to make a formal offer for SABMiller or walk away under U.K. law.

TheStreet's Jim Cramer, Portfolio Manager of the Action Alerts PLUS Charitable Trust Portfolio commented on the potential acquisition saying: "The only thing to remember here is that there will be divestitures to get the deal done, but a lot of that is already reflected in the jump in Molson Coors Brewing (TAP) - Get Report , when the smoke clears by constellation, which was the winner in the last deal because it got Modeloand Corona in a gift from the justice department that keeps on giving."

Beer companies like these may be consolidating as beer consumption in emerging markets like Brazil and China have been going down, Robobank International analyst Ross Colbert stated, according to Bloomberg.

If an offer is made and the deal is successful, this may send out antitrust shock waves throughout the world, the Journal noted.

SABMiller shares are also flying 21.51% to $56.20 on Wednesday morning. 

Based in Lueven, Belgium, Anheuser-Busch InBev is a brewing company that engages in the production, distribution, and sale of beer, alcoholic beverages, and soft drinks worldwide.

Based in London, SABMiller operates in the beer and soft drinks business. The company provides hotel and gaming services and operates as a finance and agent company. 

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