SABMiller received raises offer from Anheuser Busch InBev

Brewing giant Anheuser-Busch InBev has raised its offer for rival SABMiller after two previous bids were rejected.

The Belgian group - the world's biggest beer maker - has offered 42.15 pence a share, following bids of 38p and 40p.

It said a deal with SAB would "build the first truly global beer company". The combined group would be worth more than £180bn.

Shares in the London-based brewer have risen sharply since InBev first made its move last month.

InBev brews Budweiser, Stella Artois and Corona, while SAB brews Peroni and Grolsch, among others.

If a deal goes through, the merged company would produce one-third of the world's beer.

On Tuesday, SAB reported a 9% fall in revenues for the three months to September, which it blamed on weakening emerging market currencies. Sales volumes were up 2%.