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Wednesday April 06, 10:39
Pernod and Allied in talks about takeover bid
(by Natali Novak)

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Pernod and Allied in talks about takeover bid French drinks group Pernod Ricard SA and Allied Domecq PLC has reported on Monday that they are in talks concerning a takeover bid for their London-based rival.

This talks have caused loads of press speculations that confirm that the takeover is unavoidable, but Allied states that they hold discussions only concerning a possible takeover that may also involve U.S. rival Fortune Brands.

Pernod, the owner of such brands as Martell cognac and Jacob’s Creek wine, reported that it was "considering a takeover offer for Allied Domecq PLC in cooperation with the American group Fortune Brands Inc."

Allied shares lost 17 percent to 628.5 pence (euro9.18, US$11.82) in yesterday afternoon trading on the London Stock Exchange. Pernod shares gained 1.5 percent to euro109.30 (US$140.81).

Both companies underscore that the talks won’t necessarily lead to a deal.
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Read the related news and articles:
28 Apr 2005 10:21 AM Allied Domecq welcomes rival bidders to challenge Pernod Ricard’s offer
26 Apr 2005 08:44 AM Allied investors warn they may sell stakes
22 Apr 2005 11:16 AM Pernod, Fortune make largest industry acquisition in 8 years
18 Apr 2005 04:49 AM MERRILL LYNCH RAISED PERNOD RICARD TO "NEUTRAL" FROM "SELL"
 


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