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Suntory buying spirits maker Beam for $13.62B

DEERFIELD, Ill. (AP) - 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 $13.62 billion.

Shares of the spirits maker rose in Monday premarket trading.

Suntory will pay $83.50 per share, a 25 percent premium to Beam's Friday closing price of $66.97. The companies put the deal's value at about $16 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.

(Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)


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