Late last year, Molson Coors confirmed its intention to buy out SABMiller from their MillerCoors US joint venture for US$12bn. As part of the deal, Molson Coors will take control of the Miller brand portfolio globally.

US activist hedge fund Elliott Management has written to the board of SABMiller, the world’s second-biggest brewer, to raise concerns about the structure of its proposed £71bn takeover by larger US rival Anheuser-Busch InBev.

Elliott will add to growing unrest among investors about the choice between being paid either in cash or mostly stock after a plunge in the value of sterling following the result of a UK referendum caused a widening gap in the respective values of the options.

SABMiller's Q1 sales performance by region

SABMiller released a trading update, with sales in the three months to the end of June rising by 2% year-on-year. Here is the company's top-line performance by region.

All results are on an organic basis.

Latin America - Q1 sales +5%, volumes +1%

US anti-trust authorities have sought to rein in Anheuser-Busch InBev's distribution clout in the country, as they gave conditional approval to the brewer's SABMiller takeover.

In a judgement released late yesterday, the Department of Justice issued a number of rulings that would limit distribution for AB InBev brands once the takeover of SAB completes. The rulings come after the Budweiser owner came in for criticism, including from a US senator last month, about its distribution strength.

Teamsters Warn Failure to Address Capacity Concerns Will Hurt Consumers, Workers and Competition in the U.S.

Without addressing capacity concerns that Teamsters warned will contract supply, increase prices, and harm competition in the U.S. beer market, the U.S. Department of Justice today provided antitrust approval for the megamerger of the world’s two largest brewers, Anheuser Busch InBev (NYSE: ABI) and SABMiller (LON: SAB), along with the related $12 billion divestiture of SAB’s stake in the MillerCoors Joint Venture to partner Molson Coors (NYSE: TAP).

The European Commission has opened an investigation to assess whether AB InBev has abused its ‘dominant position on the Belgian beer market’ by hindering imports of its beer from neighboring countries, in breach of EU antitrust rules.

After a long negotiation process where the Union of the Brewing Industry of Panama (STICP) had to call a strike and get to arbitration, finally last April, STICP won its fight for collective agreement which will be valid for three years. The negotiation process also involved the IUF-affiliated Industrial Workers Union of Manufacturing and Marketing of Refreshments Drinks, Sodas, Beers, Spirits & Related products (Sintrafcorebgacelis).

Heineken International has signed a joint venture agreement with Philippines-based Asia Brewery as it looks to drive premiumisation in the region.

Asia Brewery is owned by LT Group. Under the JV agreement, a new company - AB Heineken Philippines - will be formed. Financial details were not disclosed.

Canada is the latest country to approve Anheuser-Busch InBev's takeover of SABMiller, as well as Molson Coors' proposed buyout of SAB's stake in the MillerCoors joint-venture in North America.

The country's Competition Bureau said on May 31, 2016 that it has issued a "No-Action Letter" to AB InBev and Molson Coors. Once complete, AB InBev will take ownership of SAB's Foster's Lager and Castle Lager brands in Canada, with Molson Coors set to purchase the rights to various Miller brands, including Miller Genuine Draft and Miller Lite.

South Africa's Competition Commission has approved Anheuser-Busch InBev's takeover of SABMiller, provided the merged entity sells SAB's stake in Distell.

In recommending the merger to the country's Competition Tribunal, the commission attached several conditions to the acquisition. As well as the divestment of the 30% stake in Distell, AB InBev will be required to keep SAB's Coca-Cola bottling operations in South Africa separate from its Pepsi bottling footprint in other markets.