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Suntory Of Japan To Buy Maker Of Jim Beam For $13.6 Billion

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http://dealbook.nytimes.com/2014/01/13/suntory-of-japan-to-buy-maker-of-jim-beam-for-13-6-billion/?ref=business&_r=0

Updated, 12:34 p.m. | Suntory, a privately held giant known for producing Japan’s first whiskey, has agreed to acquire the maker of Jim Beam and Maker’s Mark bourbons and Teacher’s and Laphroaig Scotch whiskies, for $13.6 billion.

Suntory, based in Osaka, is offering Beam shareholders $83.50 a share in cash, 25 percent above Beam’s closing stock price on Friday. It represents a multiple of more than 20 times Beam’s earnings before interest, taxes, depreciation and amortization for the 12 months ended Sept. 30.

Including the assumption of debt, the deal, which was announced on Monday, is valued at $16 billion.

..

Pointing to the high level of debt involved in the deal, Moody’s Investors Service said it was placing Suntory Holdings’ debt under review for a downgrade.

Someone looking to spend Bernanke dollars before they become worthless.

Paying over 25% for the shares!!!

Yeah the first leverage buyout. The bankers must be toasting tonight, and price of whisky to go up for the bankers to get their money?

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