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Monday, January 13, 2014

Japan's Suntory to purchase U.S. drinks group Beam for $16 billion, (NYSE: BEAM)

Suntory Holdings Ltd said on Monday it plans to purchase Beam Inc for $16 billion, including debt, making the Japanese company the world's third-largest maker of distilled drinks. Beam's brands include Jim Beam , Maker's Mark, Sauza, Canadian Club and Courvoisier.

Beam Inc. (Beam) is a premium spirits company that makes and sells branded distilled spirits products in markets worldwide. Shares of BEAM traded higher by 24.05% or $16.105/share to $83.08. In the past year, the shares have traded as low as $59.66 and as high as $70.63. On average, 675546 shares of BEAM exchange hands on a given day and today's volume is recorded at 27399424.