Suntory buys spirits maker Beam for $13bn

Written By Unknown on Senin, 13 Januari 2014 | 20.48

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 $US13.62 billion ($A15.18 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 $US16 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.


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