EU: Pernod Allied Spanish concerns queried - report
European Commission (EC) clearance for Pernod Ricard's proposed takeover of Allied Domecq still has some hurdles to clear, according to recent reports. Citing sources close to the case, news agency AFX said yesterday (20 June) that EC approval will be granted this week, but with conditions concerning the companies' distribution network, particularly in Spain.
Speaking to AFX, one source said: "The main issue is (connected to) distribution, as the combined group will have a strong network in Spain and will have to offer some type of behavioural commitment to ensure other companies don't get pushed out. There was also a problem with the gin market and the commission has asked for a little bit more there."
Pernod has offered a solution to competition concerns in the gin market, a source told AFX, but more specific details were not forthcoming.
The French company is still waiting for approval from both its and Allied's shareholders, as well as clearance from the US Federal Trade Commission. Pernod hopes to have the deal sewn up by the end of next month.
It's been a quiet day on the Pernod/Allied Domecq front....
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 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....
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