IRELAND’S last remaining independent whiskey producer, the Cooley Distillery, has been acquired by US spirits giant Beam Inc — the producer of the Jim Beam bourbon brand — for nearly €73 million.

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

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