AB InBev submits offer to buy SABMiller for $107 billion

Anheuser-Busch InBev NV submitted its formal offer to buy SABMiller Plc for about $107 billion, ending a month of intense negotiations to seal the biggest deal in United Kingdom history.

The Budweiser-maker will pay 44 pounds ($66.7) a share in cash for a majority of the stock, the companies said, confirming a price accord announced on October 13.

The deal will lead to annual pretax cost synergies of at least $1.4 billion, they said. To help gain antitrust approval, Molson Coors Brewing Co will acquire SABMiller's 58 percent stake in MillerCoors LLC for $12 billion, giving it full control of a business that makes Coors Light.