Pernod has eyes on Allied Domecq
Allied Domecq, the world’s number two spirits group, confirmed speculation that it was in talks about a takeover with Pernod Ricard of France and Fortune Brands of the U.S. to create the world’s largest spirits company. However, Pernod Ricard said that discussions are at an early stage. There can be no certainty that an offer for Allied Domecq will ultimately be forthcoming.
Allied has been dubbed the spirits industry’s perennial bride which caused its share price to double since 2003. But it was only in April this year that rumours about Allied befalling a fate similar to Seagram’s (in 2000 the USD 8.2 billion Seagram drinks portfolio was carved up between Pernod and Diageo), acquired some substance. Allied, the maker of Malibu rum and Beefeater gin, has a market value of USD 12.S.S.
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