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Shareholder adviser Glass Lewis backs AB InBev takeover of SABMiller

Reuters
View of Anheuser-Busch InBev logo outside the brewery headquarters in Leuven August 12, 2010. REUTERS/Jan Van De Vel

LONDON (Reuters) - Investor advisory firm Glass Lewis has recommended SABMiller shareholders vote in favour of its takeover by Anheuser-Busch InBev, adding to the likelihood of the $100 billion (75 billion pounds)-plus beer mega-merger getting done.

One of the biggest deals in corporate history, which will marry brands such as Castle Lager and Corona, has been endorsed by both companies' boards. It will face a shareholder vote on Sept. 28.

Glass Lewis said the cash offer was a fair price at which SABMiller shareholders could cash out and immediately realise a significant premium. It also said the deal represented a historically high valuation multiple.

"Based on these factors, along with the unanimous support of the board, we believe the proposed acquisition is in the best interests of shareholders," the firm said in its report.

(Reporting by Martinne Geller; Editing by Mark Potter)