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LONDON — The world's largest brewers have received an extra week to work out the details of a potential $106-billion merger. The deadline is now Nov. 4.
Anheuser-Busch InBev and SABMiller were granted the extension by the U.K.'s Takeover Panel on Wednesday. The extension gives A-B InBev additional time to make a formal bid, according to The Associated Press.
The companies said Wednesday that A-B InBev had confirmed the financial terms of the agreement in principle announced Oct. 13, as well as arrangements to finance the cash portion of the offer.
SABMiller, which is based in London, requested the extension so talks on "other aspects of the transaction" could continue, the news agency reported.
Any deal would fall under the close eye of antitrust regulators, mainly because the mega beer company would have too much power in key markets worldwide, resulting in higher beer prices.
Anheuser-Busch InBev is already the world's largest beer brewer. Its brands include Budweiser, Corona and Stella Artois.
SABMiller is the second-largest brewing company in the world. The group's brand portfolio includes leading local brands such as Aguila (Colombia), Castle (South Africa), Miller Lite (United States), Snow (China), Victoria Bitter (Australia) and Tyskie (Poland), as well as global brands such as Pilsner Urquell, Peroni Nastro Azzurro, Miller Genuine Draft and Grolsch.