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Beam Inc. (NYSE: BEAM) today announced that it will hold a special meeting of its shareholders on Tuesday, March 25, 2014 to consider and vote on the proposed acquisition of Beam by Suntory Holdings for $83.50 per share in cash. Subject to the receipt of necessary stockholder approval and regulatory clearance in the United States and the European Union, the companies now expect the transaction to close in April 2014.
“We continue to make progress towards completion of the transaction with Suntory Holdings, and we are working to ensure a smooth integration to create the world’s #3 premium spirits company,” said Matt Shattock, president and chief executive officer of Beam Inc.
As detailed in the definitive proxy statement related to the special meeting that Beam filed today with the U.S. Securities and Exchange Commission, Beam shareholders as of the close of business on February 18, 2014 are entitled to vote at the meeting. The special meeting will be held on March 25, 2014, at 11:00 a.m. Central Time, at the Hyatt Deerfield, 1750 Lake Cook Road, Deerfield, Illinois.
The transaction was announced on January 13
th and has been unanimously approved by each company’s board of directors.
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.