SAB Miller and AB Inbev M&A talk keeps the bid in the pound

Belgian drinks company looks to make an approach for UK SAB Miller

The pound strength is being aided by talk just out that Belgian brewer AB Inbev is going to bid for SAB Miller

There's no number being officially touted around and talk of AB's interest has been known since earlier in the year

As such EURGBP has remained under pressure since the news, dropping to 0.7280

Trading in AB shares have been halted in Brussels as I type

The thing with M&A news is that it moves a market on the expected deal outcome although no one ever usually knows when the actual cash (FX) part of the deal goes through

The FT reports that the deal could be worth around $245bn (that's the figure for joint market cap after the deal) £50-60bn