Beam Stockholders Okay $16 Bln Merger With Suntory - Quick Facts

(RTTNews) - Whiskey maker Beam Inc (BEAM) said Tuesday its stockholders approved the $16 billion acquisition of the company by Japan's Suntory Holdings.

Upon completion of the deal, each share of Beam common stock will convert into the right to receive $83.50 in cash.

The deal remains subject to regulatory clearance in the European Union and customary closing conditions.

The companies expect to close the deal in April.

In January, Suntory agreed to acquire Beam, which makes two iconic American whisky brands, for $16 billion, including the assumption of debt. Beam makes the popular Jim Beam and Maker's Mark whiskies.

The deal will see the creation of the world's third largest premium spirits company with annual sales of spirits products exceeding $4.3 billion.