User Login    
 + Register
PDQ Cleaning
News : Japanese Firm Purchases Jim Beam For 13.62 Billion
Posted by Randy on 2014/1/13 7:33:39 (305 reads) News by the same author

DEERFIELD, Ill. (AP) -- Beam, the maker of Jim Beam and Maker's Mark bourbons along with other liquor brands, has agreed to be acquired by Japan's Suntory Holdings Ltd. for approximately $13.62 billion.

Click to see original Image in a new window

Shares of the spirits maker jumped in Monday premarket trading.

Suntory has a portfolio of spirits, with whiskies including Yamazaki and Hakushu as well as Midori liqueur and other beverages. It already distributes Beam's products in Japan. Beam distributes Suntory's products in Singapore and other Asian markets.

Suntory President and Chairman Nobutada Saji said in a statement that the acquisition will help Suntory further its global growth.

The combined company is expected to have annual sales of spirits products of more than $4.3 billion.

Beam President and CEO Matt Shattock and the Deerfield, Ill., company's current management will continue to run the business.

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

Suntory plans to fund the deal with available cash and fully committed financing from The Bank of Tokyo-Mitsubishi UFJ.

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

The deal needs approval from Beam Inc. stockholders.

Beam's stock gained $17.40, or 26 percent, to $84.37 in premarket trading about 90 minutes before the market open.

Printer Friendly Page Send this Story to a Friend Create a PDF from the article


Other articles
2014/12/17 13:22:19 - Could Alcatraz Escapees From '62 Have Survived?
2014/12/17 13:10:28 - Waco, Texas Meteorologist Shot Outside TV Station
2014/12/17 13:10:00 - St. Joseph Mom Accused Of Starving Baby To Death
2014/12/17 11:20:00 - Trenton Bulldog Coaches Shows For Wednesday, 12/17/14
2014/12/17 10:16:42 - 19th Century Worth County Court Cases Added To Statewide Database
2014/12/17 10:10:30 - Livingston County Investigating Property Damage Reports
2014/12/17 10:02:39 - Hamilton Woman Wins NCMC Scholarship
2014/12/17 9:40:00 - Trenton Tames The Tigers, Awaits Gallatin Visit
2014/12/17 9:30:00 - KC Royals Officially Announce Kendrys Morales Signing
2014/12/17 9:10:00 - Trenton Police Department Begins Body Camera Usage
2014/12/17 8:43:30 - MCT Seeks Actors/Actresses To Perform "The Jungle Book"
2014/12/17 8:30:00 - Indiana Woman Wishes To Be Buried With Her Dog, But.........
2014/12/17 8:30:00 - Young Ohio Woman Continues Public Battle With Brain Cancer
2014/12/17 8:10:00 - Sony Pictures Hack Takes Yet Another Weird Twist
2014/12/17 8:10:00 - Carrollton Hospital Hosts Ground-Breaking Ceremony
2014/12/17 8:10:00 - AP Sources: US, Cuba Seek To Normalize Relations
2014/12/17 7:50:00 - Sunnyview Honors Gastineau As "Employee Of The Month"
2014/12/17 7:48:25 - Show-Me-Select Heifers Set Record Price At Palmyra
2014/12/17 7:34:10 - Adair County Collision Injures Green Castle Teen
2014/12/17 7:31:41 - MDC Seeks Public Opinion On Shooting Ranges
2014/12/17 7:25:47 - Spickard Board Approves Audit
2014/12/17 7:18:37 - Grundy County Tax Collections Up For 2014
2014/12/16 14:08:23 - Mercer Girls Cruise Into HDC Semifinals
2014/12/16 11:30:00 - Robinson To Challenge McHargue For Trenton Mayor
2014/12/16 11:20:00 - Bucklin Woman Named Farm Bureau Ambassador
2014/12/16 11:15:47 - Paraprofessional To Resign At Laredo School
2014/12/16 10:56:01 - Northeast Missouri Woman Injured In Accident Near Trenton
2014/12/16 10:50:00 - Search Intensifies For Gunman Who Killed Six Near Philadelphia
2014/12/16 10:19:03 - Taliban Kills 141 In Pakistani School Shooting
2014/12/16 10:10:00 - Gilman City Coaches Shows For Tuesday, 12/16/14



Bookmark this article at these sites

                   

Listen to KTTN-FM