BELGIUM: EC stalls on Allied, Pernod decision
The European Commission has extended its review of Pernod's planned takeover of Allied Domecq. The judgement, which was initially due on Friday (10 June) will now be given two weeks later on 24 June.
The extension was required to consider offers by Pernod to divest of some of Allied's brands, an official said.
Further details were not given.
A counter-bid by a consortium led by Constellation is widely expected to be announced within the next few days. The group has until 29 June to make an offer.
Todays press reports into Pernod and Fortune's hopes to buy Allied Domecq warn of possible conflicts and set a date for completion....
Constellation Brands has reported record net sales and net income for its full year, despite a tough fourth quarter, in which it was hit by acquisition costs....
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....
Frescobaldi has bought out Constellation from its joint venture, according to press reports....
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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