Made in USA but possibly owned by Japan if deal goes through
Posted: Mon Jan 13, 2014 9:36 am
WTF? and they say when this was announced shares rose? Really? lol Not in Bourbon country they won't. Guess this means I will not be inclined to purchase Jim Beam and Marker's Mark alcohol brands if it happens. (to tell the truth I might not really have much in the past 3 years anyway) Oh well thank God for the Heaven Hill Distillery that makes Elijah Craig, Evan Williams, etc. as they are privately held and family owned and actually have true BEAM family as their Master Distillers! and I might be leaning more on the Barton Brand 100 proof line for the cheaper mix... (even if they do have their administrative offices in Louisiana.. lol) Japan? Really? Will it become the official drink of Toyota? lol
Business News42 minutes 58 seconds ago
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Japanese Company Buying Spirits Maker Beam
DEERFIELD, Ill. (AP) - Beam, the maker of Jim Beam and Marker's Mark alcohol brands, has agreed to be acquired by Japan's Suntory Holdings Ltd. for approximately $13.62 billion.
Shares of the spirits maker rose in Monday premarket trading.
Suntory will pay $83.50 per share, a 25 percent premium to Beam's Friday closing price of $66.97. The companies put the deal's value at about $16 billion, including debt.
Suntory has a portfolio of spirits, with whiskies including Yamazaki and Hakushu as well as Midori liqueur and other beverages.
Suntory already distributes Beam's products in Japan. Beam distributes Suntory's products in Singapore and other Asian markets.
Both companies' boards unanimously approved the transaction, which is targeted to close in the second quarter.
It needs approval from Beam Inc. stockholders.
(Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
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