EU: Pernod given Allied go-ahead by EC
Pernod Ricard has been given the green light by the European Commission for its acquisition of Allied Domecq PLC. However, the French drinks company has been told the deal is subject to certain undertakings.
Pernod Ricard's acquisition will only go through if it implements its Framework Agreement with Fortune Brands, Inc and sell the Glen Grant, Old Smuggler and Braemar Scotch whisky brands as well as the 1920 and CR&F Portuguese brandies.
On 21st April, Pernod Ricard made a recommended offer to acquire Allied Domecq PLC.
The group's portfolio will be enhanced with the addition of brands such as Ballantines whisky, Beefeater Gin, Malibu and Kalhua liqueurs, and Mumm and Perrier Jouet Champagnes.
"This clearance is an important step in this transaction» said Patrick Ricard, chairman and CEO of group Pernod Ricard. "The transaction offers us exciting opportunities and will position Pernod Ricard firmly as the number two in the worldwide spirits business and number four in wines."
The acquisition remains subject to the approval of anti-trust authorities in the USA and Canada as well as subject to the approval of both Pernod Ricard and Allied Domecq shareholders.
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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