ABI-SABMiller-Heineken: What Now?

Dear Client:We have conflicting reports about whether ABI is prepping financing for a possible bid for SABMiller; meanwhile SABMiller has approached -- and been initially spurned -- by Heineken NV. Quick note: ABI-SABMiller would be so big as to have nearly a third of the global beer market and be nearly twice the size of its next competitor, Heineken. SABMiller-Heineken would make it inch out ABI as the largest brewer by volume. So two very different outcomes. It matters.While the