Quantcast

Who Will Make the Next Move For Allied Domecq?

Get the WebProNews Newsletter:
[ Business]

Allied Domecq is the center of attention in the alcohol industry lately, having agreed to be taken over by Pernod Ricard last week for $14.2 billion.

Constellation Brands has recently expressed interest in the company as well saying that it is considering making a bid.

Assisting Constellation with its bid consideration are Jack Daniels makers Brown-Forman, and private equity firms Lion Capital and Blackstone.

“At this stage it is too early to ascertain whether this preliminary approach will lead to an offer for Allied Domecq,” said Allied.

Constellation and Pernod Ricard may not be the only ones interested in Allied Domecq.

According to a MarketWatch article,

Speculation that Diageo may try to mount a counteroffer for Allied emerged Wednesday night after the group said it would like to take advantage of favorable interest rates to refinance some of its debt and free up some cash.

According to The Times (of London) Diageo has had preliminary talks with privately held rum maker Bacardi as it mulls forming a consortium. Diageo has enough money to acquire Allied on its own, but needs a partner because of competition issues.

We’ll see who makes the next move.

Allied shares went up 3% while Pernod shares fell 3.5 percent%.

Chris is a staff writer for WebProNews. Visit WebProNews for the latest ebusiness news.

Who Will Make the Next Move For Allied Domecq?
Comments Off
Top Rated White Papers and Resources

Comments are closed.

  • Join for Access to Our Exclusive Web Tools
  • Sidebar Top
  • Sidebar Middle
  • Sign Up For The Free Newsletter
  • Sidebar Bottom