Interbrew is threatening journalists with arrest if they fail to hand over leaked documents.
The documents claimed that the company planned to take over South African Breweries.
The brewer has proposed to the news organisations they give the documents to the Financial Services Authority without sharing them with Interbrew.
The five - the Financial Times, The Guardian, the Independent, The Times and Reuters news agency - have until 8am on Monday to accept the offer.
If not, Interbrew will seek a court order for the arrest of any journalist involved in the reporting of the story or the seizure of property of the news organisations.
Interbrew says parts of the information contained in the leaked documents were doctored to make it appear an Interbrew bid for South African Breweries was imminent so as to manipulate the share prices of both companies.
In December, a London high court judge ordered the media groups to hand over the documents, a ruling later upheld by a court of appeals.
The first media reports last autumn caused Interbrew's shares to fall and South African Breweries' to jump.
Interbrew has said the sources of the information may have illegally profited on financial markets.