UK: Pernod looks at AD acquisition - report
Pernod Ricard is looking at Allied Domecq as a potential acquisition, according to press reports. Both the Wall Street Journal and the Financial Times' Website said today (4 February) that the French-based wine and spirits company is studying a possible takeover of the UK-based drinks firm.
People familiar with the matter were cited in the reports.
Although the two drinks companies have not been in contact yet, the sources said, Pernod has apparently asked J.P. Morgan and Morgan Stanley to explore potential acquisitions among a list of companies that will allow it to expand its global reach.
Both Pernod and Allied have said that they are aware that consolidation is expected within the industry. Pernod's distribution network can take more volume without incurring extra costs, the Financial Times said.
"There are no talks at the moment," The Financial Times quotes an unnamed source as saying.
A spokesman for AD said the idea of a merger between the two companies was "speculation." Pernod declined to comment, as did JP Morgan and Morgan Stanley.
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....
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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