SABMiller ends takover bid

SABMiller ended its takeover bid for Harbin Brewery, essentially ending its struggle with global rival Anheuser-Busch for control of Harbin, China's fourth largest brewer. SABMiller, the world's second largest brewer, said in a statement that it would withdraw its offer of US$0.55 per share for Hong Kong-listed Harbin and will sell its 29% stake in the Chinese brewer to Anheuser-Busch, the world's largest brewer, for US$211 million. Anheuser-Busch had offered US$0.72 per share for Harbin's shares.