Beam Investor Tries To Cork $16B Buyout By Suntory

Law360, Wilmington (January 16, 2014, 10:26 PM EST) -- A Beam Inc. investor launched a putative class action on Wednesday aimed at halting the proposed $16 billion buyout by Japan's Suntory Holdings Ltd., claiming the deal shortchanges shareholders of the U.S. liquor giant.

Filed in Delaware Chancery Court, the complaint alleges that Beam's board of directors breached its fiduciary duty by signing off on a merger agreement that undervalues the company and discourages prospective suitors from presenting a better deal.

“The proposed transaction is the product of a flawed process that resulted in the board’s...
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