Miller's attempt to buy Heineken rejected, Dutch beer maker wants to remain independent

AMSTERDAM, Netherlands, Sept. 15 (UPI) —

Heineken N.V. has rejected a bid from SABMiller saying the offer ignores anti-trust concerns and the Dutch beer maker wants to remain independent.

Heineken rejected the deal saying it was unrealistic due to anti-trust concerns — SABMiller is the world’s second largest brewery behind Anheuser-Busch owner ABInbev and Heineken is the third — and the company wanted to preserve its "heritage and identity."

Heineken, Europe’s largest brewer by volume, has been owned by the Heineken family since 1864 and is currently worth roughly $44 billion. The brewery also produces Amstel, Tecate and Dos Equis.

SABMiller’s fiscal model is significantly less consolidated as 40 percent of its shares are controlled by a private family in South America, tobacco company Altria and the government of South Africa.

"Heineken has consulted with its majority shareholder and concluded that SABMiller’s proposal is nonactionable," Heineken said in a statement.

"The Heineken family has informed SABMiller, Heineken and Heineken Holding N.V. of its intention to preserve the heritage and identity of Heineken as an independent company. The Heineken family and Heineken N.V.’s management are confident that the company will continue to deliver growth and shareholder value."

Despite speculation that a workable deal is on the horizon, Heineken "does not intend to make any further public statements in relation to this announcement."