BELGIUM: EC to grant Pernod AD okay -report
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.
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....
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....
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