The Grolsch, Peroni and Miller owner saw its shares rise 85p to 1309p on talk it could become a merger target for the Belgian giant InBev should its hopes of a tie-up with US group Anheuser-Busch fail.

InBev, which makes Stella Artois, was said to be close to opening talks with the Budweiser brewer over a bid worth up to £25billion.

Industry insiders suggested InBev could be talking up prospects of a deal with SAB, led by chief executive Graham Mackay, to try to force Anheuser to negotiate.

Anheuser is seen as vulnerable because it has struggled in its core US market in the face of rising demand for wine, spirits, foreign beers and even craft ales.

However, it has a stake in China’s Tsingtao beer and ­analysts believe InBev should be able to make cost savings.