World: Investor advisory firm Glass Lewis recommends SABMiller shareholders vote in favour of takeover by AB InBev

Shares of Anheuser Busch InBev were higher in pre-market trading on September 15 as investor advisory firm Glass Lewis recommended London brewer SABMiller's shareholders vote in favor of its $104 billion takeover by the Belgian brewing company.

The deal is expected to close in October, pending a shareholder vote on Sept. 28.

Glass Lewis said the cash offer was a fair price that shareholders could see immediate value from, according to Reuters. The firm added that the deal represents 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," Glass Lewis said in a report, Reuters notes.

Additionally, AB InBev is expected to pursue other deals once its takeover of SABMiller is complete.

Beverage companies such as Castel Group, Coca-Cola's Coca-Cola Bottling Africa and Anadolu Efes could all be possible acquisition targets, according to Reuters.

15 September, 2016