Pernod is expecting clearance from the European Commission for its proposed takeover of Allied Domecq, according to press reports. Citing a source familiar with the situation, Reuters said today (20 June) that the French drinks company will gain approval by the deadline of Friday (24 June).

Although the source asked not to be quoted directly about the matter, they confirmed to Reuters that the deal would win approval.

Last week's announcement by Constellation that its consortium would not be making a formal bid for Allied Domecq has left Pernod as the only contender for the UK-based drinks company. Fortune Brands, who is poised to buy several Allied brands from Pernod once the deal is completed, is still awaiting the okay from the Federal Trade Commission in the US.

Allied's shareholders are scheduled to meet on 4 July to vote on the proposed takeover, which has already been recommended by the company's board of directors.