US: Beam Inc to delist stock in New York as Suntory deal nears
Suntory's US$16bn takeover of Beam is due to complete next week
The US spirits firms has notified the NYSE that it will delist its common stock and publicly-tradded debt from the market once the US$16bn deal is completed, Beam said late yesterday (22 April). The company said it will also terminate the registration of the common stock and debt under the 1934 Securities Exchange Act.
Beam said it expects to officially notify the US Securities and Exchange Commission of its actions “on or before 2 May”.
Suntory's US$16bn takeover of Beam is expected to complete next Wednesday (30 April), after it was announced this week that the deal had cleared its final regulatory hurdle.
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