Pernod Ricard to take over Allied Domecq

Drinks giant Allied Domecq is to be taken over by the French owner of Chivas Regal whisky and Jacob’s Creek wines for £7.4bn (€10.8bn), it was announced today.

Allied is recommending a cash-plus-shares deal with Pernod Ricard – a move that will create a company to challenge market leader Diageo.