SABMiller Signals Interest in Molson

Brewing company SABMiller indicated Wednesday that it was interested in making a bid for Molson Inc. should the Canadian brewer’s pending merger with Adolph Coors Co. fall apart.

The London-based brewer’s statement came a week before Molson and Coors shareholders were scheduled to vote on the planned combination of Canada’s biggest brewer and the third-biggest U.S. beer company.

Molson Inc. Chairman Eric Molson, the company’s controlling shareholder, said he wouldn’t sell the brewer if the $3.4-billion merger with Adolph Coors failed. “This company is not for sale and the merger of equals with Coors is the only option on the table on Jan. 19,” Molson said in a statement.

Opponents of the Molson-Coors deal have grown more vocal ahead of the scheduled vote. The Wall Street Journal reported SABMiller’s interest in Molson on Wednesday.

In a statement released later, SABMiller said that “a Molson transaction would both have strategic merit and could be value-enhancing to SABMiller.”

“If the Coors deal is voted down by Molson shareholders, we would welcome the opportunity to discuss a potential transaction,” the company added.

SABMiller brews Miller, Carling Black Label and Nastro Azzurro among other brands.

On Tuesday, Ian Molson, who broke ranks with his family and left Molson Inc. last year, detailed his opposition to the deal, saying Molson would perform better on its own. The former deputy chairman said that he was disappointed he was unable to put together a rival bid and that he would vote against the deal. He holds about 11% of Class B shares and Eric Molson, his cousin, owns 50.4% of that class.

Coors rose 54 cents to $76 on the New York Stock Exchange. Molson rose $1.68 to $30.06 in over-the-counter trading.