UK/EUROPE: EC ruling on Pernod/Allied imminent
The European Commission is to meet today to rule on whether or not toapprove Pernod Ricard's GBP7.6bn acquisition of Allied Domecq.
The expectation is that the deal will be approved with Pernod having to dispose of some brands to meet the requirements of regulators in some markets, such as in the French whisky sector. Pernod has already proposed some possible solutions in this regard to pre-empt regulatory problems.
The Commission extended an initial deadline for announcing its decision from June 10 to June 24. A decision by the US regulator, the Federal Trade Commission, is expected in July.
It's been a quiet day on the Pernod/Allied Domecq front....
Conflicting reports circulated this weekend over whether Bacardi International is looking to form a counter-bid for Allied Domecq....
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....
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