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.
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