Legal Update: UK High Court permits SABMiller to exclude major shareholders from voting on AB InBev scheme of arrangement

AB InBev’s £78 billion bid for SABMiller plc is being implemented, in part, by way of a court-sanctioned scheme of arrangement under the UK Companies Act.

In Re SABMiller plc, the UK High Court confirmed that SABMiller was permitted to exclude its two largest shareholders from the class of SABMiller shareholders who would be asked to vote on the scheme on the basis that both shareholders had given individual consent to the terms of the scheme.