Pernod Ricard has received formal clearance in connection with its proposed acquisition of Allied Domecq from the Canadian Competition Bureau in the form of a no-action letter.

The clearance from the Canadian Competition Bureau follows the approvals received from the European Commission and the anti-trust authorities in the US. It comes in addition to the necessary authorisations received from the shareholders of Pernod and Allied.

As a result, the timetable remains as previously described with the Scheme of Arrangement expected to become effective next Tuesday (26 July) following receipt of the requisite approvals from the High Court of Justice of England and Wales. Hearings are set to be held on 22 and 25 July to sanction of the Scheme of Arrangement and confirm the reduction of Allied's share capital.