User Login    
 + Register
News : Japanese Firm Purchases Jim Beam For 13.62 Billion
Posted by Randy on 2014/1/13 7:33:39 (395 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
2015/11/27 6:40:00 - Minnesota Hunter Bags Unicorn Buck
2015/11/27 4:20:00 - Homeless Man Beaten Outside Gas Station In April Dies
2015/11/27 4:15:06 - What Happened When I Took My Spoiled Kid To A Homeless Shelter
2015/11/27 4:03:23 - Dentists Recount Strangest Things Found In Patients' Mouths
2015/11/27 4:00:00 - Planned Parenthood Considering All Legal Options To Continue Abortions At Columbia Clinic
2015/11/27 3:53:22 - November Firearms Deer Season Ends With Harvest Of 189,938
2015/11/25 14:20:00 - Police Seek Help Finding Grain Valley Fugitive
2015/11/25 12:30:05 - 11 Earthquakes Strike SE Missouri Overnight
2015/11/25 12:00:00 - Trenton Woman, Rescued In Monday Fire, Passes Away In Hospital
2015/11/25 11:14:43 - Mizzou Women Beat SIUE 75-46, Move to 5-0
2015/11/25 10:57:47 - Northwestern Holds Off Missouri 67-62 In CBE Classic
2015/11/25 10:50:00 - Lady Bulldogs Ride Richman's 22 Points To First Win Of Season
2015/11/25 10:36:32 - Gilman City Girls Open With Road Win Against Osborn
2015/11/25 10:26:54 - Chillicothe Routs Penney In Girls Season Opener
2015/11/25 10:20:00 - Princeton Splits Season Openers At North Harrison
2015/11/25 9:30:00 - Trenton Goes Overtime In Season-Opening Win Over East Buchanan
2015/11/25 8:56:26 - Mizzou Facing Image Crisis After Racial Issues, Upheaval
2015/11/25 8:26:05 - Two Charged With Murder After Man Found Dead Near Branson
2015/11/25 7:35:35 - North Central Missouri College Board of Trustees Meeting Report
2015/11/25 6:38:42 - Cameron Regional Medical Center Announces Awards Scholarships
2015/11/25 6:29:52 - 37th Annual Eagle Days at Squaw Creek Refuge To Be Held Dec. 5 & 6
2015/11/25 6:10:00 - Grundy County To Receive New Voting Equipment
2015/11/25 5:46:26 - Woman Identified In Monday Fire
2015/11/25 5:37:58 - Two Teens Injured, One Arrested In Accident Near Milan
2015/11/25 4:21:31 - Authorities Identify Victims, Alleged Shooter In Moberly Area Murder-Suicide
2015/11/25 4:18:02 - Grandfather Who Let 8-Year-Old Drive In Fatal Crash Had DUI, Drug History
2015/11/25 4:08:39 - A Rainy Thanksgiving And Potentially Slick Black Friday Morning For Missouri
2015/11/25 3:57:16 - Livingston County Sheriff Investigation Results In Conviction
2015/11/25 3:49:18 - I-29 Traffic Stop Nets 60 Pounds Of Marijuana
2015/11/24 15:28:17 - NCMC Men Fall To .500 With Hard Fought Road Loss

Bookmark this article at these sites


Listen to KTTN-FM