UK Court Rules SABMiller Shareholders Can Vote Separately

Dear Client:The UK Scheme directions hearing on whether SABMiller can treat its two biggest shareholders as a separate class of voters came to a conclusion early this morning.The UK Court sided with the SABMiller board agreeing to institute a two-class structure. This means Altria and BEVCO "will consent to the UK scheme separately and will not vote with other SABMiller shareholders." The two shareholders "have both irrevocably undertaken to consent to the UK Scheme."At the hearing, Justice Richard Snowden said