Alert, Suntory to Buy Beam for $16 Billion

Dear Client: Suntory Holdings Limited and Beam announced that they have entered into a definitive agreement under which Suntory will acquire all outstanding shares of Beam for US$83.50 per share in cash or total consideration of approximately $16 billion, including the assumption of Beam's outstanding debt. Deal expected to close in the second quarter. The deal will create a global spirits powerhouse with sales exceeding $4.3 billion. Its combined portfolio of leading brands will include Beam's Jim Beam, Maker's Mark