Beam Runs Up $95M Tab In Irish Distillery Buy

Law360, New York (December 16, 2011, 7:17 PM EST) -- Whiskey maker Beam Inc. announced Friday that it intends to buy Dublin-based Cooley Distillery, the industry’s only remaining independent Irish whiskey distillery, for $95 million.

Beam will offer Cooley’s stockholders $8.25 in cash for each outstanding share of Cooley stock, the companies said, and holders of at least 80 percent of Cooley’s outstanding stock must accept the offer and other customary closing conditions in order for the deal to pass.

The companies said they expect to complete the deal in the first quarter of 2012....
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