Music group EMI today has revealed a fresh blow in its long-running attempts to secure a takeover of US-based rival Warner Music Group.

Senior executives at record label EMI and US rival Warner Music were said today to be preparing for preliminary talks over a £4bn-plus merger.

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

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 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.

Drinks giant Allied Domecq was today reported to be a takeover target of the French owner of Jameson whiskey, Chivas Regal whiskey and Jacob’s Creek wines.

TWENTY-EIGHT jobs are to go with the closure of the Irish Distillers' North Mall bottling plant in Cork City.

Pernod Ricard, the French drinks giant that owns Irish Distillers, said full year sales fell 27% due to the strength of the euro and the sale of its non-drink operations.

Music group EMI today said it had pulled out of the race for Time Warner’s recorded music division.

MUSIC group EMI could face a takeover move from a US private equity group if it fails in its bid for the recorded music division of Time Warner, according to reports.

Music group EMI could face a takeover move from a United States private equity group if it fails in its bid for the recorded music division of Time Warner, according to reports.

Drinks giant Diageo today said it saw some signs of an upturn in worldwide trading conditions as it reported annual underlying profits had risen by 6%.

Granville Again, winner of the 1993 Champion Hurdle, and a former stalwart of Martin Pipe’s stable, has died aged 17.

Drinks giant Allied Domecq has held secret merger talks with privately-owned rum distiller Bacardi about a deal which would value the combined group at around £10bn, according to reports today.

Fast-food giant Burger King was sold at the second time of asking today after its British owner agreed a cut-price deal.

PERNOD Ricard believe sales of Jameson Irish whiskey will double to three million cases in the short term and plan to take on Sminoff-Ice in the ready-to-go drinks market with a new product - Jameson Chill.

PERNOD RICARD has sold its BWG subsidiary for €220 million to a management buyout led by chief executive Leo Crawford.

BRITISH venture capital firm Electra Partners is expecting to finalise its purchase of BWG wholesalers within days.

Diageo has gained approval for its £5.7bn purchase of Seagram's wine and spirits business.

It will be busy in London City next week, as market watchers dodge the May Day riots to study figures from Whitbread, Shell, Bank of Scotland and Powergen.