It's been a quiet day on the Pernod/Allied Domecq front. Only two news stories have covered the saga, and both say that Bacardi has dropped out of the running for the UK-based drinks company.

Reports at the weekend in the UK suggested that the privately-owned US firm was sounding out potential partners such as Brown-Forman, Constellation and Suntory to prepare a counter-bid for Allied.

But today's Daily Mail says that Bacardi's acquisition of Grey Goose late last year means its coffers are empty. It may, however, look to buy some of Allied's unwanted brands, the paper said.

Dow Jones today says the same thing, but quotes a source familiar with the company's thinking. "They are watching everything from the sidelines," the source said of Bacardi.

"They may look at which brands are available," the source added. The press agency suggests that Bacardi may be tempted by Sauza tequila and Makers Mark Bourbon, although adds that analysts doubt that they would be put up for sale in any break-up.