Breaking Finance News

BEAM Soaring 25 Percent on Buyout News

jim-beamShares of distilled spirits maker, Beam (NASDAQ: BEAM) are up 25 percent in premarket trading after Suntory Holdings announced it was acquiring the company for $83.50 per share in cash for a total price of $16 billion.

The transaction represents a 25 percent premium to Beam’s closing price on January 10, 2014.

“This is a very exciting development that delivers substantial value for our stockholders and creates an even stronger global company with an excellent platform for future growth,” said Matt Shattock, President and Chief Executive Officer of Beam Inc. “Together we will be a global leader in distilled spirits with the #3 position in premium spirits and a dynamic portfolio across key categories. With particular strength in Bourbon, Scotch, Canadian, Irish and Japanese whisky, the combined company will have unparalleled expertise and portfolio breadth in premium whisky, which is driving the fastest growth in Western spirits.”


Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with's FREE daily email newsletter.