The world's largest brewer wants to buy the world's 2nd-largest brewer to form a global brewing behemoth

• Ben Moshinsky
 

• 6h
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Getty Images/Dave Sanford

The maker of Bud Light is interested in getting together with the maker of Miller Lite.

Shares in the brewing giant SABMiller just exploded upward after the company confirmed that its rival drinks giant Anheuser-Busch InBev is planning to buy the company.

Shares are up around 23% on the news. It's the deal everyone in the drinks industry has been waiting years to see and could be worth up to $250 billion (£162 billion) according to the Financial Times.

SABMiller is the world's second-largest brewer by revenue. Its beers include Fosters, Peroni, Miller, and Grolsch. Earlier this year it bought the London craft brewery Meantime.

AB InBev, meanwhile, is the world's biggest brewery by revenue. It makes Budweiser, Corona, Stella Artois, and Becks, among many others.

Here's the statement from SABMiller (emphasis ours):

The Board of SABMiller notes the recent press speculation and confirms that Anheuser-Busch InBev SA/NV ("ABInBev") has informed SABMiller that it intends to make a proposal to acquire SABMiller. No proposal has yet been received and the Board of SABMiller has no further details about the terms of any such proposal.

Here are SABMiller shares on Wednesday:

Investing

And here is AB InBev in London trading:

Investing.co