Stock Update (NYSE:MO): Altria Group Inc Statement on the Joint Announcement by Anheuser-Busch InBev and SABMiller
Altria Group Inc (NYSE:MO), the largest shareholder of SABMiller plc (SABMiller), notes the joint announcement earlier this morning by Anheuser-Busch InBev (AB InBev) and SABMiller of their agreement in principle on key terms regarding a possible recommended offer for AB InBev to acquire SABMiller. At SABMiller’s request, the U.K. Takeover Panel has extended until October 28, 2015 the relevant Takeover Code deadline to enable the parties to continue their talks.
Altria is pleased that ABI and SABMiller have taken these steps, and looks forward to working constructively with both parties. (Original Source)
Shares of Altria closed yesterday at $57.46 . MO has a 1-year high of $57.67 and a 1-year low of $44.59. The stock’s 50-day moving average is $53.95 and its 200-day moving average is $51.67.
On the ratings front, Cowen analyst Vivien Azer reiterated a Buy rating on MO, in a report issued on September 16. According to TipRanks.com, Azer has a total average return of 17.3%, an 84.2% success rate, and is ranked #570 out of 3775 analysts.