Molson Coors in talks to buy SABMiller’s stake

Molson Coors (NYSE:TAP) reportedly is in advanced negotiations with SABMiller to buy a majority stake in their USA joint venture MillerCoors.

The Financial Times first reported the talks between Molson Coors and SABMiller, calling the sale of the MillerCoors stake “key” to Anheuser-Busch InBev winning regulatory approval for its $104 billion purchase of SABMiller.

The talks come ahead of the Wednesday deadline for AB InBev to make a formal takeover bid for SABMiller or walk away from the deal.

No agreement has been reached and a deal could still fall apart, the people familiar with the talks said.

Molson Coors Brewing Co reported a 13 percent drop in net sales as a strong dollar reduced the value of its sales. Shares in AB InBev were down 0.4% in morning trade Tuesday, while those in SABMiller were up 0.2%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move.

An Anheuser Busch InBev NV branded Corona beer along with SABMiller Plc branded beers

Previous post

GE completes Alstom acquisition

Next post

Trader Found Guilty Of Commodity Fraud And 'Spoofing'