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Belgian-Brazilian brewer ups the stakes in beer takeover battle

Anheuser-Busch InBev raised its proposed takeover offer for SABMiller to £43.50 a share on Monday, upping the stakes in a takeover battle to create the world’s dominant brewing company, according to people familiar with the latest bid.

News of the fourth proposal by AB InBev for its London-listed rival, which values SABMiller’s equity at $70bn, came with less than 52 hours before a UK bid deadline.

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Glencore has fired the starting gun on a sales process for two copper assets after the miner-cum-trader was approached by several suitors.

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People close to the company said there was no guarantee that Glencore would sell either the Cobar mine in Australia or Lomas Bayas in Chile, which analysts said could be worth between $500m to $1bn.

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