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Monday, February 17, 2014

Suntory head says Beam purchase to aid expansion in BRIC markets, (NYSE: BEAM)

The head of Suntory Holdings Ltd said on Monday the $13.6 billion takeover of U.S. whiskey maker Beam Inc would help the Japanese spirits maker expand in emerging markets Brazil, Russia, India and China. Under the deal, announced last month and worth $16 billion including debt, Suntory paid a 25 percent premium to Beam's share price at the time, leading many to suggest that Suntory had overpaid.

Beam Inc. (Beam) is a premium spirits company that makes and sells branded distilled spirits products in markets worldwide. Shares of BEAM fell by 0.05% or $-0.04/share to $83.28. In the past year, the shares have traded as low as $59.66 and as high as $84.00. On average, 2439200 shares of BEAM exchange hands on a given day and today's volume is recorded at 1889948.