Pending Acquisition of Beam Inc. by Suntory Holdings Receives European Regulatory Clearance
April 22 2014 - 7:30AM
Business Wire
Companies Expect
Transaction to Close on April 30
Beam Inc. (NYSE: BEAM) today announced that the European
Commission has given regulatory clearance to the pending
acquisition of Beam by Suntory Holdings. Upon completion of the $16
billion transaction, each share of Beam common stock will convert
into the right to receive $83.50 in cash (subject to applicable
withholding taxes).
“Regulatory clearance from the European Commission paves the way
to complete the transaction with Suntory Holdings next week,” said
Matt Shattock, president and CEO of Beam. “We have been working
with Suntory to help ensure a smooth integration as we create the
world’s #3 premium spirits company, which will possess a dynamic
portfolio across key categories, powerful global routes to market,
and strong innovation capabilities. Our portfolios and operations
are highly complementary, so we’ll be focused on sustaining our
momentum and generating sales synergies as we bring our companies
together.”
The transaction, which has been approved by Beam shareholders,
remains subject to customary closing conditions. The companies now
expect that the acquisition will be completed on April 30 in the
United States, and as a result, Beam expects that its shares will
no longer trade on the New York Stock Exchange effective at the end
of trading on that day.
About Beam Inc.
As one of the world’s leading premium spirits companies, Beam is
Crafting the Spirits that Stir the World. Consumers from all
corners of the globe call for the company’s brands, including Jim
Beam Bourbon, Maker's Mark Bourbon, Sauza Tequila, Pinnacle Vodka,
Canadian Club Whisky, Courvoisier Cognac, Teacher's Scotch Whisky,
Skinnygirl Cocktails, Cruzan Rum, Hornitos Tequila, Knob Creek
Bourbon, Laphroaig Scotch Whisky, Kilbeggan Irish Whiskey, Larios
Gin, Whisky DYC and DeKuyper Cordials. Beam is focused on
delivering superior performance with its unique combination of
scale with agility and a strategy of Creating Famous Brands,
Building Winning Markets and Fueling Our Growth. Beam and its
3,200 passionate associates worldwide generated 2013 sales of $2.55
billion (excluding excise taxes), volume of 37 million 9-liter
equivalent cases and some of the industry’s fastest growing
innovations.
Headquartered in Deerfield, Illinois, Beam is traded on the New
York Stock Exchange under the ticker symbol BEAM and is included in
the S&P 500 Index and the MSCI World Index. For more
information on Beam, its brands, and its commitment to social
responsibility, please visit www.beamglobal.com and
www.drinksmart.com.
Cautionary Statement Regarding
Forward-Looking Statements
Certain statements in this press release may
constitute “forward-looking statements” as that term is
defined in the Private Securities Litigation Reform Act of 1995.
These forward-looking statements generally can be identified by the
words “will,” “expects,” “believes” and words or phrases of similar
import. Actual results could differ materially from those projected
or forecast in the forward-looking statements. The factors that
could cause actual results to differ materially include, without
limitation, risks or uncertainties associated with: the
satisfaction of the conditions precedent to the consummation of the
proposed transaction with Suntory Holdings, including, without
limitation, the receipt of applicable regulatory approvals;
unanticipated difficulties or expenditures relating to the proposed
transaction; legal proceedings instituted against Beam and others
following announcement of the proposed transaction; disruptions of
current plans and operations caused by the announcement and
pendency of the proposed transaction; potential difficulties in
employee retention as a result of the announcement and pendency of
the proposed transaction; the response of customers, distributors,
suppliers and competitors to the announcement of the proposed
transaction; and other factors described in Beam’s annual report on
Form 10-K for the year ended December 31, 2013 filed with the U.S.
Securities and Exchange Commission (the “SEC”). Beam assumes no
obligation to update the information in this press release, except
as required by law. Readers are cautioned not to place undue
reliance on these forward-looking statements that speak only as of
the date hereof.
Beam Inc.Media RelationsClarkson Hine,
+1-847-444-7515Clarkson.Hine@beamglobal.comorInvestor
RelationsTony Diaz, +1-847-444-7690Tony.Diaz@beamglobal.com
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