Shares in SABMiller soared to approximately 23 per cent on Wednesday on the back of news of a ‘super-merger’ between the world’s two largest brewers – Anheuser-Busch InBev (AB InBev) and SAB Miller.

SAB Miller – owners of Carlton & United Breweries (CUB) here in Australia and brewers of VB, Peroni and Carlton Draught, is the target of a takeover by AB InBev, who between them would control roughly 30 per cent of the world’s beer market by volume and up to 45 per cent in profit, according to Euromonitor.

AB InBev – brewers of brands such as Corona, Budweiser, Stella Artois and Beck’s, have made public their intention to table a takeover proposal to the SAB Miller board, which would “pave the way for a deal that would likely value SABMiller well in excess of its $75 billion market capitalisation and create a brewing giant that would dominate much of the global beer market,” according to the Wall Street Journal.

The combined portfolio will provide a challenge in many markets and shares in companies that are prospective purchasers of divested assets also rose on with the news.

While speculation of the ‘super-merger’ has long been the subject of global brewers, it seems the possibility is now a step closer.

Under UK takeover rules, AB InBev must table their offer before 5pm GMT on October 14.