The merge between the world’s two largest beer companies will have to wait at least another week.
AB Inbev and SABMiller announced yesterday that they have sought an extension until Wednesday, Nov. 4, to finish the $104.2 billion deal between the two corporations. This request requires government approval, which is expected to be granted sometime today.
The extension is not seen as a sign of problems surfacing within the deal. Rather, it is believed that the request stems from the sheer amount of work involved in piecing together such a large business merger.
An AB Inbev press release states that the additional week is “in order to allow SABMiller and AB InBev to continue their discussions with respect to other aspects of the transaction.”
SABMiller agreed two weeks ago to the purchase offer presented by AB Inbev, after turning down several previous offers.