SABMiller Climbs On Report InBev Is Eyeing $106 Billion Bid

Shares of SABMiller PLC climbed to the top of the FTSE 100 index on Monday, up 3.1%, after a report Anheuser-Busch InBev SA is nearing a bid for the U.K.-listed brewer. The Sunday Times reported on Sunday that Budweiser owner InBev may bid 70 billion pounds ($106 billion) for SABMiller and that the offer could come as early as Monday. InBev said about two weeks ago it had approached its rival about a possible takeover, which could create the world's largest beer company. SABMiller was initially resistant about the approach, according to the Sunday Times report, but has now softened its position in a bid to secure a big premium.