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With cheap money available, Japan Inc. seen to follow Suntory's M&A path

By Ritsuko Ando TOKYO (Reuters) - More Japanese companies are expected to follow Suntory Beverage & Food Ltd <2587.T> in acquiring overseas companies to gain a foothold in faster-growing markets even as global economic uncertainty and a weaker yen temper deal-making. Japan's slow domestic growth and cash-heavy balance sheets, together with declining birth rates and an ageing society, have encouraged outbound acquisitions by companies in a broad range of sectors from consumer and retail to finance and electronics.

Asian shares slip after Wall St losses

Asian markets suffered a sell-off on Tuesday after heavy losses on Wall Street fuelled by last week's worse-than-expected US jobs figures. The yen eased back against the dollar and euro, although that was not enough to prevent a slide on Japan's Nikkei as it reopened after a long weekend. Tokyo tumbled 2.05 percent by the break, Hong Kong slipped 0.95 percent, Sydney eased 0.90 percent, Shanghai lost 0.28 percent and Seoul fell 0.13 percent.

Asian shares slip after Wall St losses

Asian markets suffered a sell-off on Tuesday after heavy losses on Wall Street fuelled by last week's worse-than-expected US jobs figures. The yen eased back against the dollar and euro, although that was not enough to prevent a slide on Japan's Nikkei as it reopened after a long weekend. Tokyo tumbled 2.05 percent by the break, Hong Kong slipped 0.95 percent, Sydney eased 0.90 percent, Shanghai lost 0.28 percent and Seoul fell 0.13 percent.

Suntory Beverage rises; parent to buy U.S. spirits group Beam

TOKYO (Reuters) - Shares in Suntory Beverage & Food Ltd <2587.T> climbed 2.3 percent to 3,355 yen on Tuesday morning, outperforming the broader market, after parent Suntory Holdings said it would buy U.S. spirits company Beam Inc <BEAM.N> for $13.6 billion. The Nikkei benchmark <.N225> lost 2.5 percent in early trade after a surprisingly weak U.S. jobs report on Friday. Monday was a public holiday in Japan. (Reporting by Dominic Lau; Editing by Chang-Ran Kim)

Suntory Beverage rises; parent to buy U.S. spirits group Beam

TOKYO (Reuters) - Shares in Suntory Beverage & Food Ltd climbed 2.3 percent to 3,355 yen on Tuesday morning, outperforming the broader market, after parent Suntory Holdings said it would buy U.S. spirits company Beam Inc for $13.6 billion. The Nikkei benchmark lost 2.5 percent in early trade after a surprisingly weak U.S. jobs report on Friday. Monday was a public holiday in Japan. (Reporting by Dominic Lau; Editing by Chang-Ran Kim)

Japan's Suntory to buy GSK drink brands for $2.1 billion

Japanese drinks giant Suntory Holdings said Monday it would buy the Lucozade and Ribena brands from British drugs firm GlaxoSmithKline for $2.1 billion. The deal, part of Suntory's bid to expand overseas to counter a shrinking domestic market, was expected to be completed by the end of the year, Suntory said. bur-pb/lm

Suntory unit shares rise 1.45% in Tokyo debut

Shares in Suntory's food-and-beverage unit closed 1.45 percent higher on their Tokyo debut Wednesday, after the Japanese drinks giant raised about $3.9 billion in the world's second-biggest initial public offering this year. The firm, which owns the Orangina brand and distributes a range of foreign products in Japan including Pepsi and Jim Beam bourbon, spun off the lucrative unit as it eyes more foreign acquisitions. The sale followed a string of overseas deals aimed at offsetting a shrinking market at home.

Shares in Japan's Suntory unit up 0.65% on debut

Shares in Japan's Suntory food-and-beverage unit rose 0.65 percent in their market debut on the Tokyo Stock Exchange Wednesday. Suntory Beverage & Food stocks traded at 3,120 yen against their initial public offering price of 3,100 yen following the biggest IPO in Japan this year. mis/jw

Shares in Japan's Suntory unit in modest rise on debut

Shares in Suntory's food-and-beverage unit rose modestly on their market debut Wednesday, gaining more than two percent after the biggest initial public offering in Japan this year. Suntory Beverage & Food stocks started up 0.65 percent at 3,120 yen against their initial public offering (IPO) price of 3,100 yen. They extended the gain to 2.58 percent after the first 30 minutes of trading in a broader market moving downwards. The benchmark Nikkei 225 index was off 0.12 percent.

Suntory unit shares to start trading in Tokyo

Shares in Suntory's food-and-beverage unit were to start trading on the Tokyo Stock Exchange Wednesday morning after the biggest initial public offering in Japan this year. The Japanese drinks maker said last month it had raised 387.5 billion yen ($3.9 billion) in its share sale after a string of overseas acquisitions aimed at offsetting a shrinking domestic market. About 125 million shares were sold at 3,100 yen apiece in the privately held company's Suntory Beverage & Food unit. The pricing was at the low end of a range announced in May.
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