Constellation has said it is still hoping to work towards making an offer for Allied Domecq, despite yesterday's announcement from Diageo. The US-based company told Dow Jones yesterday (6 June) that Diageo's promise not to talk to a third party outside of Pernod does not change its intentions.

Constellation spokesman Mike Martin told the news agency that Diageo's deal with Pernod does not change the company's position from its announcement last month that it has made an indicative proposal to buy Allied. The consortium led by Constellation "may or may not be" preparing to make a counter-bid for Allied, Martin said, declining to make further comment.

The consortium, which also includes Brown-Forman, has been given a 29 June deadline by UK regulatory authorities.

Diageo announced late yesterday that it has signed an agreement with Pernod to buy its Irish whiskey brand, Bushmills, for GBP200m and has an option to buy Allied's Montana wine business for GBP320m if Pernod's bid is a success. In return, Diageo has vowed not to enter discussions with third parties about any counter-bids for Allied.

Seperately yesterday, Pernod said that it has postponed an extraordinary shareholder meeting to 30 June from 20 June following the deal with Diageo.