Pernod Ricard and Fortune Brands To Take Over Allied Domecq

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Pernod Ricard and Fortune Brands have made an agreement to takeover Allied Domecq which makes Malibu Rum and Beefeater Gin.

$14.2 billion is the offer that has been accepted by Allied Domecq.

According to an Associated Press article,

“Allied Domecq’s board has accepted the broad outline of the offer, but some details remain to be settled before the agreement can be finalized and announced, the person said, speaking on condition of anonymity. That could happen as soon as Thursday, the person said.

The Wall Street Journal reported earlier on its Web site that Allied Domecq had accepted an offer that would see its brands – including Ballantine’s whiskey and Beefeater gin – divided between Pernod and Fortune.”

Fortune Brands shares went down 1.8%, and Pernod Ricard shares fell 0.1%

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Pernod Ricard and Fortune Brands To Take Over Allied Domecq
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