AB InBev Is Set to Acquire SABMiller for a Record $106 Billion

The biggest beer deal may have just been brewed. Anheuser Busch InBev (BUD) is set acquire SABMiller (SBMRY) for roughly $106 billion, as the two largest beer companies have signed an agreement in principle, setting the stage for an official deal. AB InBev has until October 28 to make a final offer. The deal is subject to approval by regulators. In the past, SABMiller refused four offers from AB InBev. Tobacco and cigarette company Altria Group (MO), based in the U.S., has a 27 percent stake in SABMiller. Bevco Company, owned by the Santo Domingo family, holds a roughly 14 percent share of SABMiller. Critics of the potential merger say the combined beer behemoth could lead to less competition, fewer options and higher prices for customers. Shares of AB InBev rose about 2 percent on the news.