TOKYO, Jan. 13 -- (Kyodo) _ Suntory Holdings Ltd. will acquire U.S. distiller Beam Inc. for $16 billion, the two companies said Monday.
Suntory will acquire all outstanding shares of Beam for $83.50 per share in cash, they said.
The transaction is expected to be closed in the second quarter of 2014 after approval by Beam shareholders and regulatory authorities, they said.
Suntory President Nobutada Saji said in a joint press release, "I believe this combination will create a spirits business with a product portfolio unmatched throughout the world and allow us to achieve further global growth."
Beam's brands include Jim Beam and Maker's Mark.
(c) 2014 Kyodo News International, Inc.
Original headline: Suntory to buy U.S. distiller Beam for $16 bil.
Most Popular Stories
- Obama Administration Releases Proposal to Regulate For-Profit Colleges
- Apple, HP, Intel May Take a Hit from Slowdown in Smartphone Sales Growth
- Elizabeth Vargas' Husband Marc Cohn Addresses Rumors
- FDIC Files Lawsuit on Behalf of Banks Allegedly Hurt by Libor Scandal
- Keurig Adds Peet's coffee, Alters Starbucks deal
- Motley Crue's Nikki Sixx Marries Model Courtney Bingham
- U.S. to Relinquish Gov't Control Over Internet
- Chinese e-Commerce Giant Alibaba Gears for IPO in U.S.
- Some California Cities Seeking Water Independence
- Will Missing Malaysian Jet Prompt Aviation System Change?