NEW YORK (TheStreet) -- Shares of Molson Coors Brewing (TAP) - Get Report are rising 4.40% to $102.05 on heavy trading volume Friday afternoon after SABMiller's (SBMRY) board recommended that shareholders vote in favor of Anheuser Busch InBev's (BUD) most recent takeover offer.
Molson Coors plans to acquire SABMiller's 58% stake in their venture, MillerCoors, for $12 billion as part of SABMiller's efforts to win regulatory approval for the AB InBev deal.
On Tuesday AB InBev increased its bid for SABMiller to about $104 billion, or 45 pounds per share, causing SABMiller to halt the companies' integration efforts to discuss the offer, which AB InBev said was its final.
The deal is now subject to shareholder approval.
About 7.85 million shares of Molson Coors have been traded so far today, well above its average trading volume of roughly 2.61 million shares per day.
Separately, TheStreet Ratings team rates the stock as a "buy" with a ratings score of B+.
Molson Coors' strengths such as its increase in net income, largely solid financial position with reasonable debt levels by most measures, expanding profit margins, good cash flow from operations and solid stock price performance outweigh the fact that the company has had somewhat disappointing return on equity.
You can view the full analysis from the report here: TAP
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.