Suntory Holdings Ltd., the closely held Japanese whiskey and beer maker, said it will buy Beam Inc. for $16 billion to gain brands such as Maker’s Mark whiskey and create the world’s third-largest premium spirits company.

Shareholders in the Deerfield, Illinois-based maker of Jim Beam and Canadian Club liquor will receive $83.50 in cash per share, the Tokyo-based company said today in a statement. That compares with Beam’s last closing price of $66.97.

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