Beam sold in $16 billion deal to Japan's Suntory Holdings

Chicago mergers and acquisitions activity continues to heat up. Japan's Suntory Holdings has announced it will acquire Deerfield-based Beam Inc., the producer of Jim Beam and Maker's Mark bourbons and other top-shelf liquor brands. Beam became an independent company when Fortune Brands Inc. was split into two companies in 2011.

Suntory Holdings has agreed to pay $83.50 a share in cash to purchase Beam. The transaction values Beam at $16 billion, including the assumption of debt. If the acquisition is completed as planned, the merged company would have annual sales of more than $4.3 billion, the two companies said, making it the world's third-largest premium spirits company, behind Diageo and Pernod Ricard.

Fortune Brands to Split into 3 Companies

Fortune Brands, a consumer products company based in Deerfield, Illinois, has announced today that it plans to split into three separate companies. Fortune Brands said it will focus on its spirits business which generates annual revenue of $2.5 billion and includes brands such as Jim Beam bourbon, Canadian Club and Maker's Mark.

The home and security business, which includes well-known brands such as Moen faucets, Master Locks and MasterBrand cabinets, will be spun off on a tax-free basis to shareholders.

The golf business, which features brands such as Titleist golf balls and FootJoy golf shoes and gloves, will be either spun off or sold.

The company said the plan is the result of its ongoing strategic review over the past four years and is expected to be completed within several months. The separation is subject to various conditions including regulatory approvals.