AB InBev makes higher £70bn bid for SABMiller

Anheuser-Busch InBev, the world's biggest brewer has increased its takeover offer for rival SABMiller to around 70 billion, reported by Sky News.

On Monday, AB InBev made a fourth bid to SABMiller's board, worth the equivalent of about $108 billion or 95 billion euros.

It quoted market sources as saying the offer was "around 43.50" per SABMiller share. Both companies refused to comment.

AB InBev, Belgian-Brazilian titan which produces Budweiser and Stella Artois lagers, had last week offered $103 billion for the British group that makes Foster's and Grolsch. But SABMiller discarded it as too low, despite being an improvement on two prior bids.