UPDATE 7-AB InBev ups offer for SABMiller as deadline looms
* ABI offers 43.50/shr, up from last bid of 42.15/shr
* SAB shares slip as investors still have doubts on deal
* Eyes on Santo Domingos as SAB board weighs new proposal (Adds report of board meeting, comments, background)
By Martinne Geller and Philip Blenkinsop
LONDON/BRUSSELS, Oct 12 (Reuters) - Anheuser-Busch InBev raised its proposed takeover offer for SABMiller on Monday, as the world's largest brewer tries to win over its smaller rival to the idea of creating a giant that would make nearly a third of the world's beer.
The maker of Budweiser and Stella Artois said it would offer 43.50 pounds per share in cash to most SABMiller shareholders, an improvement from the 42.15 pounds it put forward last week.
Under UK takeover rules, AB InBev has until 1600 GMT on Wednesday to launch a formal bid for SABMiller, which would rank as the biggest British company takeover at 67 billion pounds ($103 billion). SAB can ask the takeover panel for an extension if it wants to continue discussions.
Monday's sweetened offer is the fourth, following rejections of cash offers at 38, 40 and 42.15 pounds per share.
Three of SAB's top 10 shareholders had spoken out in support of the board rejecting the previous offer, which SABMiller said "very substantially" undervalued the company. Continuación...