Drinks giant 'on brink of €11bn takeover'

Drinks giant Pernod Ricard should be ready to serve up a £7.4bn (€10.8bn) takeover deal for rival Allied Domecq later this week, reports indicated today.

The pair are expected to announce on Thursday – the date of Allied’s half-year results – that they have agreed terms on a takeover proposal from Pernod.