Suntory pays US$16 billion for Beam Inc
Suntory has announced it will acquire all outstanding shares of Beam Inc for US$16 billion, including assumption of Beam’s outstanding net debt. Suntory will pay US$83.50 per share, a 25% premium on Beam’s closing price of US$66.97 on 10 January 2014.
The transaction is expected to close in Q2 2014, subject to Beam stockholders’ approval, regulatory approvals and other customary closing conditions. The transaction has been unanimously approved by both Beam’s and Suntory’s boards of directors.
The acquisition will create a strong portfolio of leading spirits brands, such as Jim Beam, Canadian Club, Courvoisier and Midori, along with Suntory’s leading Japanese whiskies Yamazaki, Hakushu, Hibiki and Kakubin.
The current Beam management team will continue to lead the business, which will be managed from Beam’s headquarters near Chicago.
Two more Italian tomato exporters investigated for dumping
Vegetable producers and processors have welcomed an announcement that the Anti-Dumping Commission...
Global Food Safety Conference to feature LRQA, Cargill, Metro Group and World Bank
Representatives from LRQA, Cargill, Metro Group and the World Bank are among some of the keynote...
Labelling review recommends 'per serving' information be scrapped
The independent review of labelling has issued a recommendation that proposes the declaration in...
