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Beam to delist 8 5/8% notes, 7 7/8% notes after buyout by Suntory
By Susanna Moon
Chicago, April 22 - Beam Inc. said it plans to delist its 8 5/8% debentures due 2021 and 7 7/8% debentures due 2023 in connection with the acquisition of the company by Suntory Holdings Ltd.
To delist the debentures as well as the company's common stock, Beam expects to file a Form 25 with the Securities and Exchange Commission by May 2, according to a company press release.
The acquisition is expected to close April 30.
The deal has been approved by Beam's stockholders and regulatory authorities in the United States and the European Union.
The company decided to delist the notes from the New York Stock Exchange because of the administrative costs and burdens.
After the delisting, noteholders will continue to receive their principal and interest payments through the trustee, the company said.
Beam, formerly Fortune Brands, Inc., produces and sells spirits. The company is based in Deerfield, Ill.
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