In its second major move on the international market in as many months, after agreeing to combine its American operations with those of Molson Coors, SABMiller is offering Euro 48.25 per share, 84.3% above Grolsch's average closing price over the past month.
SABMiller, the brewer behind Miller Genuine Draft, Miller Lite and Peroni, said that the management of Grolsch supported the offer, which values the Dutch company at Euro 816m (£582m). As with earlier deals, including its acquisition of Italy's Peroni and Germany's Beck's, SABMiller is paying a premium, offering almost 15 times the reported 2006 earnings before interest, tax, depreciation and amortisation.