BREAKING NEWS: AD, Pernod & Fortune - It's Go
Pernod Ricard is to acquire Allied Domecq.
Following weeks of speculation, the French company confirmed this morning that it has reached agreement on the terms of a recommended offer to acquire the entire issued and to be issued share capital of Allied.
The transaction values Allied at around GBP7.4bn (US$14.2bn).
Pernod's co-bidder, Fortune Brands, will buy Allied's Sauza, Maker's Mark, Courvoisier and Canadian Club spirit's brands, super-premium California wines, including the Clos du Bois brand, Allied's distribution assets in the UK, Germany and Spain and for US wine, and Pernod's Larios brand for around GBP2.8bn in cash.
Further details will appear on this website shortly.
Todays press reports into Pernod and Fortune's hopes to buy Allied Domecq warn of possible conflicts and set a date for completion....
Allied Domecq has added a new flavour to its Malibu range. The company said yesterday that it would be launching Malibu Passion Fruit in the US from April 15....
Pernod Ricard and Fortune Brands are considering a US$13 billion bid for Allied Domecq, the world's second-largest spirits company. Were it to take place, Pernod and Fortune would split Allied's brand...
Pernod Ricard and Fortune Brands are hoping to buy Allied Domecq for around 670p per share, according to press reports....
LVMH has said it is not looking to buy Mumm Champagne from Allied Domecq....
The US consumer goods group Fortune Brands has confirmed it is in talks about launching a joint bid with Pernod Ricard for Allied Domecq....
Diageo is to launch a new global advertising campaign for Smirnoff Ice. The first ad in the global campaign, 'Garden', launches in Great Britain on April 11th on terrestrial and satellite TV. ...
Fideuram Wargny has upgraded its rating of Pernod Ricard to 'buy' from 'hold'. Its analysts argue that the merger talks with Allied Domecq is a catalyst for share growth....
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