Suntory Holdings buying spirits maker Beam for about $13.62 billion - InfoNews

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Suntory Holdings buying spirits maker Beam for about $13.62 billion

This Oct. 3, 2012 photo, shows the Jim Beam visitors center at its central distillery in Clermont, Ky. THE CANADIAN PRESS/AP, Bruce Schreiner
January 13, 2014 - 4:19 AM

DEERFIELD, Ill. - Beam, the maker of Jim Beam and Marker's Mark alcohol brands, has agreed to be acquired by Japan's Suntory Holdings Ltd. for approximately $13.62 billion.

Shares of the spirits maker rose in Monday premarket trading.

Suntory will pay $83.50 per share, a 25 per cent premium to Beam's Friday closing price of $66.97. The companies put the deal's value at about $16 billion, including debt.

Suntory has a portfolio of spirits, with whiskies including Yamazaki and Hakushu as well as Midori liqueur and other beverages.

Suntory already distributes Beam's products in Japan. Beam distributes Suntory's products in Singapore and other Asian markets.

Both companies' boards unanimously approved the transaction, which is targeted to close in the second quarter.

It needs approval from Beam Inc. stockholders.

News from © The Associated Press, 2014
The Associated Press

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