UK: AD shares soar at takeover rumours
Shares in Allied Domecq rose to their highest in 20 months today as rumours of a potential takeover surfaced.
The announcement from Bacardi yesterday that it is one step closer to an initial public offering, led to talk amongst dealers that companies such as Pernod Ricard may react by seeking an acquisition such as AD.
Rumours that Pernod may have AD as a target have surfaced several times in the past. Neither company were immediately available for comment.
Allied's share price this morning rose by 2% to 454 pence. Earlier the shares hit 457p, their highest level since June 2002.
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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