Heineken rejects SABMiller takeover bid

AMSTERDAM — Family-controlled brewer Heineken says it has rejected a takeover bid by rival SABMiller.

In a statement issued late Sunday night, the Dutch brewer said the Heineken family informed SABMiller it intends “to preserve the heritage and identity of Heineken as an independent company.”

Heineken did not release any details of the SABMiller bid.

Four generations on, Heineken family won’t loosen grip [Reuters]

Heineken is the world’s third largest brewer while SABMiller, producer of brands including Miller Genuine Draft and Grolsch, is the second largest. Anheuser-Busch InBev, famous for its Budweiser and Corona brands, is the world’s largest brewer.

In February, Heineken reported a 52 percent fall in net profit for 2013, to 1.36 billion euros from 2012, when it booked a one-time gain of 1.49 billion euros on its Asian Pacific Breweries business.

THE ASSOCIATED PRESS