Beam Inc. was sued over its proposed $16 billion takeover by Suntory Holdings Ltd. by an investor who said the transaction is being driven by the company’s largest shareholder, hedge-fund manager Bill Ackman.
Suntory Holdings Ltd., the Japanese whiskey and soft-drinks company controlled by billionaire Nobutada Saji, offered to buy out the entire Whyte & Mackay business from United Spirits Ltd., CNBC TV18 reported today, citing people it didn’t identify.
The Standard & Poor’s 500 Index fell for the week, after touching an all-time high, as weaker-than- estimated earnings at companies from Citigroup Inc. to CSX Corp. offset an improving outlook for the global economy.
Billionaire Nobutada Saji’s Suntory Holdings Ltd. got a cool reception for its acquisition of whiskey maker Beam Inc. as rating companies threatened a downgrade and investors predicted rising borrowing costs.
Suntory Holdings Ltd., the closely held Japanese whiskey and beer maker, agreed to buy Beam Inc. for $16 billion including debt to gain brands such as Maker’s Mark whiskey and create the world’s third-largest premium spirits company.