UK: Mixed US news for AD prompts share slide
Shares in Allied Domecq dipped early yesterday after comments from AC Nielsen suggested a mixed picture for the company. Dealers said yesterday that AC Nielsen data for last month suggested both good and bad for AD in the US.
According to Lehman Brothers, AD was the best performer in monthly terms in the US, with a 3.4% rise in August and an increase of 6.2% in the year to date.
The broker added, however, that during the month, the main reason for the rise was a surprise surge in Ballantines volumes, while consistent performers such as Kahlua and Sauza were softer.
The group's Makers, Mark and Malibu brands continued their double-digit growth, rising 11% and 20% respectively in the year to date, which helped the group's price/mix rise 0.6% in August, although it was negative at -1% in the year to date.
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 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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