The wait for the megadeal between brewing giants SABMiller (LON:SAB) and rival Anheuser-Busch InBev (ABI) (NYSE:BUD) will go on a little longer.
The two firms have been granted extra time to hash out the finer points of the £68bn deal.
Under the rules of the UK’s takeover panel, the two sides had until 5pm tonight to reach an agreement, but this has been pushed back until November 4.
SABMiller, the brewer of Peroni Nastro Azzurro, and Stella Artois maker ABI have agreed in principle to a £44 per share cash deal with a partial share alternative for 41% of SABMiller's shares.
The all-cash offer represents a premium of about 50% to SABMiller's closing share price of £29.34 on September 14.
Questions still remain about whether regulators would allow the deal, with unconfirmed reports suggesting ABI has held talks to sell off some of its US assets, a move seen as crucial for regulatory approval.