SABMiller to Buy Grolsch

In a surprise development, SABMiller has announced that it has a deal to buy Grolsch for $1.2 billion, outmanuevering A-B.SABMiller said it's buying the nearly 400 year-old-brewer for 48.25 euros a share, a premium of 84% to the average closing price of Grolsch over the last month. The board of Grolsch backed the bid, as did shareholders with 37% of the stock.What's surprising is that Anheuser-Busch markets Grolsch in the US, and many A-B distributors have recently paid a pretty