SABMiller Receives Court OK For Separate Shareholder Classes

SABMiller has received approval from a London court to treat its shareholders as two separate groups, specific to the vote on its takeover by Anheuser Busch InBev.

SABMiller said the move would help make the vote as fair as possible, and Justice Richard Snowden agreed that it would lower the risk of delays or challenges from dissenting shareholders.  The deal will now require approval from 75% of SABMiller’s shareholders, excepting Altria and Bevco, who have a combined 40% share.  The latter two will be required to vote separately, although they have already said they will support the deal.

SABMiller said it will offer more details about the deal, as well as transaction documents, on 26 August. It plans to hold meetings with shareholders on 28 September, and if the deal is approved, will complete the same by 10 October 2016.