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Suntory Holdings (OTCPK:STBFY) said it’s not in talks to purchase Boston Beer (NYSE:SAM), a spokesperson for Suntory told Bloomberg on Saturday.
The denial comes after Boston Beer (SAM) shares surged 22% on Friday after a Wall Street Journal report that the maker of Samuel Adams beer was in early talks to be sold to Jim Beam owner Suntory. The WSJ report cautioned that talks may not result in a deal or that another suitor could emerge.
Boston Beer (SAM) told Bloomberg on Friday that the brewer doesn’t comment on rumors and is focused on its business as an independent company and its return to growth.
The WSJ report comes after speculation from Betaville last month that Boston Beer (SAM) had attracted takeover interest. There was some speculation that Heineken (OTCQX:HEINY) may be interested, according to the report. Some other people suggested that Molson Coors (TAP) may be the potential suitor for Boston Beer (SAM).
