Suntory Holdings Ltd on Monday said it would purchase Beam Inc for $13.6 billion in cash in a deal that would make the Japanese company the world's third-largest spirits maker.Including the assumption of Beam's net debt, the deal is valued at $16 billion. It brings together Beam's Jim Beam and Maker's Mark bourbons, Courvoisier cognac and Sauza tequila with Suntory's Yamazaki, Hakushu, Hibiki and Kakubin Japanese whiskies, Bowmore Scotch whisky and Midori liqueur.The deal is the latest example of how Japanese beverage companies are seeking to quench their thirst for overseas growth as the population in their home market shrinks."All Japanese beverage companies have been focused on getting growth outside Japan," said Bernstein Research analyst Trevor Stirling.
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 24.13% or $16.16/share to $83.13. 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 31265188.
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