The Hague (AFP) - Heineken has rejected a takeover bid by British rival SABMiller after the family-controlled Dutch beer giant said it preferred to remain independent.
The hostile bid was itself aimed at protecting SABMiller, the world's second largest brewer, from a takeover by the world's number one, Belgium's AB InBev, analysts said.
The Heineken family, the majority shareholder, informed SABMiller "of its intention to preserve the heritage and identity of Heineken as an independent company", the Dutch brewer said in a statement late Sunday.
"The Heineken family and Heineken N.V.'s management are confident that the company will continue to deliver growth and shareholder value," the statement added.
Therefore the SABMiller bid, for an unspecified sum, was "non-actionable".
Heineken said it made the decision to announce the approach by SABMiller, and its rejection of the bid, due to rumours swirling around the markets.
"In this case the family has a controlling interest, and without their authorisation, nothing can happen," said Corne van Zeijl of Dutch asset management firm Actiam.
"They currently have nine billion euros in assets and I wonder whether the family are ready to abandon for a few billion more," he told Dutch BNR radio on Monday.
Tom Muller of Theodoor Gilissen private bank said there was no reason for the family to sell the brewer.
"Heineken is a sound business, solid enough to fight the competition around the world," Muller told AFP.
"Business is going well and there's no urgent reason to sell... The family already has plenty of money," he said.
- Defensive move -
SABMiller, with its Miller and Peroni brands, is the second-biggest brewer in the world, valued at around 70 billion euros ($90 billion).