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Homedeals and iposJapan's Suntory to buy US drinks group Beam

Japan’s Suntory to buy US drinks group Beam

Suntory said on Monday it plans to buy Beam for $16 billion, including debt, making the Japanese company the world's third-largest maker of distilled drinks.

The $16 billion transaction includes $2 billion in assumed debt.

Beam's brands include Jim Beam, Maker's Mark, Sauza, Canadian Club and Courvoisier.

Suntory will pay $83.50 per share in cash, a 25 percent premium to Beam's closing share price of $66.97 on Friday.

Bottles of Jim Beam Maple bourbon move down the bottling line at the Beam distillery in Clermont, Kentucky.Luke Sharrett | Bloomberg | Getty Images

The transaction, which has been unanimously approved by each company's board of directors, is expected to close in the second quarter of 2014, subject to Beam stockholders' approval, regulatory approvals and other customary closing conditions.

Shares of Beam shot higher in pre-market trading.

–By Reuters. contributed to this article.


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