Drinks giant Allied Domecq was today closer to being swallowed by rival Pernod Ricard after regulators in the United States gave the deal the green light.

DRINKS giant Pernod Ricard was given a clear run at Allied Domecq yesterday when a rival pulled out of the takeover race.

The London market held its nerve today to secure its best finish since the summer of 2002.

The FTSE 100 Index was on track to end the week at its highest level in three years today as the sky-high cost of crude boosted oil stocks.

Drinks giant Pernod Ricard was given a clear run at Allied Domecq today when a rival pulled out of the takeover race.

GUINNESS owner Diageo has swooped to buy Irish whiskey maker Bushmills for €295 million.

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 today confirmed it had expressed interest in funding one of the rival companies vying to take over Allied Domecq.

BRITAIN’S Takeover Panel yesterday set a June 29 deadline for a consortium headed by Constellation Brands to make a rival offer for spirits group Allied Domecq which has already agreed to be taken over by France’s Pernod Ricard.

A US-based consortium was today given an ultimatum to bid for drinks giant Allied Domecq within the month or walk away.

Top flight shares ended the week lower than they started it after falling commodity prices reduced the value of mining stocks.

A rival to Pernod Ricard has moved closer to launching a counter-bid for drinks group Allied Domecq, it emerged today.

PERNOD RICARD, owners of Irish Distillers, have reported a better than expected 8.4% rise in first-quarter sales.

Two of the world’s biggest drinks companies today squared up to rival Pernod Ricard in the battle for UK firm Allied Domecq.

THE world’s largest wine company, Constellation Brands, said yesterday it was considering a possible counter bid for Allied Domecq , which agreed to be taken over by Pernod Ricard last week.

Drinks firms helped lift spirits on the London market today as investors warmed to the prospect of a possible bidding war for Allied Domecq.

A bid battle for Allied Domecq was brewing today after the world’s biggest winemaker confirmed it was considering a rival offer.

The London market trod water below its opening mark today as high oil prices continued to take their toll on equities.

The world’s largest winemaker is in talks that could see it gatecrash the £7.4bn (€10.8bn) takeover of drinks group Allied Domecq, it was reported today.

The world’s largest wine company is being created through the $1.4bn (€1.3bn) takeover of Australian firm BRL Hardy by US group Constellation Brands, it was announced today.