AUSTRALIA: Allied declares interest in PLW
The Barossa Valley wine company said that its financial advisors are now in talks with Allied regarding the possibility of a takeover offer.
With Allied controlling 14.53% of PLW a counter-bid by the UK group has been viewed as a distinct possibility since Hess tabled its bid just over two weeks ago.
The PLW board has been supportive of the Hess offer in the absence of a higher bid but it would appear it is in no hurry to accept the Hess offer while a counter offer from Allied remains a possibility. The board has urged shareholders not to take any action until it makes an official recommendation.
"Throughout the coming months, the independent directors will be considering a number of matters, including the takeover offer from Hess and any other offers that may emerge, whether from Allied Domecq or another party," the company said in letter to its shareholders.
"It is likely that there will be further developments in relation to possible corporate activity and the situation is liable to change at relatively short notice," said PLW chairman, Richard England. "For these reasons, I would urge you to take no action in relation to any proposal until you have received the views and recommendation of the independent directors in our target statement."
As Pernod Ricard, Allied Domecq and Fortune Brands close in on the biggest drinks industry deal since the sale of Seagram, opinion about how the deal will be structured and who stands to win and lose ...
Cautious optimism is probably the best way to describe today's press reaction to Pernod's friendly bid for Allied Domecq....
Spirits firm Allied Domecq has agreed to a takeover bid from smaller rival Pernod Ricard, subject to agreement from Allied shareholders....
Allied Domecq last night accepted Pernod Ricard's offer to buy the UK-based drinks giant....
Allied Domecq today delivered a 7% increase in first half group profits before tax to £285m. Earnings per share were up 7% to 19.2p, turnover that was flat at £1,700m....
Drinks producer and distributor Todhunter International has said that its controlling shareholder, CL Financial, is interested in acquiring some of the brands of Allied Domecq that may become availabl...
Pernod Ricard has had its rating raised....
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....
- The end is nigh for Global Travel Retail - Comment
- Five ways small brands can beat big players
- Interview, Bulldog Gin founder Anshuman Vohra
- Pernod Ricard's Q1 results - Preview
- Pernod Ricard Q1 2017 results by region, brand
- Diageo most at risk to Thai alcohol ban - analyst
- Constellation sells Canadian wine unit for US$761m
- Jobs at new India hub won't affect staff - Diageo
- Stumbling UK Pound prompts Conviviality price hike
- Pernod Ricard cheers US move to ease Cuban limits
- Global gin insights - market forecasts, product innovation and consumer trends
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends
- Global rum insights - market forecasts, product innovation and consumer trends
- Global RTD insights - market forecasts, product innovation and consumer trends
- Global Wine Market 2016-2020