Japanese buy Jim Beam

Suntory Holdings Limited and Beam Inc., Deerfield, jointly announced that they have entered into a definitive agreement under which Suntory will acquire all outstanding shares of Beam for USD 83.50 per share in cash or total consideration of approximately USD 16 billion, including the assumption of Beam’s outstanding net debt. The consideration represents a 25 percent premium to Beam’s closing price of USD 66.97 on January 10, 2014. The transaction is expected to close in the second quarter of 2014, subject to Beam stockholders’ approval, regulatory approvals and other customary closing conditions.

The deal will create a stronger global player in premium spirits with annual net sales of spirits products exceeding USD 4.3 billion. Its portfolio will include brands like Jim Beam, Maker’s Mark, Knob Creek, Teacher’s, Laphroaig and Canadian Club whisky.