Mario Gabelli Comments on Beam Inc.

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Apr 30, 2014

Beam Inc. (BEAM) (4.9%) (BEAM - $83.30 - NYSE) is a leading premium spirits company, with brands such as Jim Beam and Maker's Mark bourbons. On January 13, 2014, Suntory Holdings Limited, a Japanese holding company that sells both alcoholic and non-alcoholic beverages, announced it would acquire Beam for $83.50 cash per share in a $16 billion merger. Shareholders have approved the deal, and the companies are awaiting approval in Europe. The deal is expected to close in late April.

From Mario Gabelli (Trades, Portfolio)'s first quarter 2014 ABC Fund commentary.