Drinks giant Diageo backs takeover bid

Drinks giant Diageo today backed the £7.4bn (€11bn) takeover of Allied Domecq by French rival Pernod Ricard after being allowed to cherry-pick key brands.

Drinks giant Diageo backs takeover bid
Mon, 06 Jun, 2005 - 19:08

Drinks giant Diageo today backed the £7.4bn (€11bn) takeover of Allied Domecq by French rival Pernod Ricard after being allowed to cherry-pick key brands.

Diageo revealed it was paying £200m (€297m) for Bushmills – the second biggest brand of Irish whiskey – on condition that Pernod successfully lands control of Allied.

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CourtsBusinessHeathrowPlace: MontanaPlace: New ZealandPlace: USPerson: Chief ExecutivePerson: Paul WalshPerson: Brown-FormanOrganisation: DiageoOrganisation: Allied DomecqOrganisation: Pernod RicardOrganisation: BushmillsOrganisation: PernodOrganisation: AlliedOrganisation: Constellation BrandsOrganisation: MontanaOrganisation: GuinnessOrganisation: BaileysOrganisation: J&BOrganisation: Jose CuervoOrganisation: Captain MorganOrganisation: TanquerayOrganisation: Beaulieu VineyardOrganisation: Sterling Vineyards winesOrganisation: Southern Comfort
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