London, Oct 13 (Agencies): Beer major SABMiller has accepted a takeover proposal at the fifth time of asking from Anheuser-Busch InBev, the world’s largest brewer.

After repeated rejections from its next largest rival, AB InBev said it was willing in principle to pay 44 pounds in cash per SABMiller share, with a partial share alternative set at a discount and limited to 41 per cent of the SABMiller shares.

Earlier, on Monday, Anheuser-Busch InBev had raised its proposed takeover offer for SABMiller to 43.50 pounds per share, as the world's largest brewer tried to win over the second-largest to the idea of creating a giant that would make nearly a third of the world's beer.

The combined entity would have a little over 30 per cent of the world’s beer market.

The maker of Budweiser and Stella Artois had 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.

Monday's sweetened offer was 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.

SAB makes beers such as Peroni and Grolsch.