UK: Bid speculation drives Allied share price
Whispers on the floors of the stock exchange about a possible takeover bid for the world's second biggest spirits and wine group Allied Domecq, has seen its share price jump in the last couple of days.
Shares were up 20p by close yesterday and at 2.22pm GMT today had risen another 2.27% or 8p to 359p.
Initially analysts attributed the gains to a post results investor roadshow, but there have been reports that US venture capitalists are considering a takeover bid. Texas Pacific Group, which recently acquired Burger King from Diageo, and Hicks, Muse, Tate & Furst, which sold Allied its Mumm and Perrier-Jouet Champagne brands in December 2000, have both been mentioned. The UK entrepreneur Hugh Osmond's name was also doing the rounds.
Diageo is looking to change the image of one of its flagship brands in Colombia....
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....
Diageo has completed another share buyback transaction....
Fortune Brands has started making moves to acquire in the European drinks industry, according to press reports....
E&J Gallo has announced a number of appointments within its European division....
Diageo's Smirnoff Signatures line of premixed cocktails is now available nationwide in the US....
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