Business & Tech
Japanese Company Acquires Deerfield-Based Beam Inc.
At a price tag of $16 million, Japan-based Suntory Holdings is set to acquire the spirits company.
Japan's Suntory Holdings has officially acquired Deerfield-based spirits company Beam, Inc. for $16 billion, according to a press release on the Beam, Inc. website.
The release states that stockholders formally approved the acquisition Tuesday, and each share of Beam common stock will be converted to a value of $83.50, taking into account withholding taxes.
“Shareholder approval of the acquisition by Suntory is a reflection of the substantial value created for our investors over the past several years, culminating in this transaction,” said Matt Shattock, president and chief executive officer of Beam Inc. in the release.
Subject to regulatory clearance, the acquisition is expected to be complete by April 28.
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