Dave Broom report: Brown spirits cast shadow over Seagram merger as Scotch distilleries fear the worst

The race for Seagram's spirits seems to have boiled down to a two horse race between Allied Domecq and Diageo/Pernod Ricard. But as Dave Broom reports there are considerable inconsistencies in the rationale for a merger between Seagram and either of its two suitors, especially in the brown spirits portfolio.