Anheuser-Busch InBev NV launched an effort to take over SABMiller PLC, a bold move that, if successful, would create a brewing giant that would dominate much of the global beer market.

A deal would allow the new beer behemoth to take big mainstream brands like Budweiser and Stella Artois, which have been languishing in key markets, into new corners of the globe. It would help the two brewers resist the growing popularity of craft beers.

SABMiller said AB InBev had informed it that AB InBev intended to make an acquisition proposal, but cautioned that no deal was certain. No terms were disclosed, but it is likely that any bid would be well in excess of SABMiller’s Tuesday market capitalization of $75 billion.

While AB InBev said it intends “to work with SABMiller’s board toward a recommended transaction,” it was unclear where SAB stood on the matter. SABMiller said its board “will review and respond as appropriate to any proposal which might be made.”

It also wasn’t certain whether such a combination would clear the numerous antitrust reviews it would likely trigger, particularly in China and in the U.S., where AB InBev has 45% of the market and SABMiller about 25% through its MillerCoors LLC joint venture with Molson Coors Brewing Co.