UK: OFT clears Diageo acquisition of Bushmills
The UK competition authorities have given the green light to Diageo's purchase of the Irish whiskey brand Bushmills.
The UK's Office of Fair Trading (OFT) has decided, on the information currently available to it, not to refer the anticipated acquisition by Diageo.
Diageo entered into an agreement with Pernod to purchase its Irish whiskey brand, Bushmills, for approximately GBP200m in June.
"The acquisition of Bushmills represents an important opportunity for Diageo as Irish whiskey is a category in which, currently, Diageo does not participate," the company said in the statement at the time. "Diageo expects that the proposed acquisition will be economic profit positive during the fourth full year after completion using a 9% weighted average cost of capital."
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....
Pernod Ricard is looking to acquire Allied Domecq....
Allied Domecq and Pernod Ricard have both been downgraded....
Diageo has completed another share buyback transaction....
E&J Gallo has announced a number of appointments within its European division....
Diageo's Smirnoff Signatures line of premixed cocktails is now available nationwide in the US....
Diageo is poised to cut back its presence in Germany, according to local reports....
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