/ Source: Reuters
Drinks group Allied Domecq Plc has received a proposal from U.S. firm Constellation Brands, but said it would still progress with its agreed $14 billion buyout from France’s Pernod Ricard.
Constellation, the world’s biggest wine company, is leading a consortium that also includes spirits maker Brown-Forman and financial firms Lion Capital and Blackstone Group over a possible counterbid for Allied.
“Allied Domecq announces that it has now received an indicative proposal from the consortium regarding a potential offer,” Allied said in a statement on Friday.
“The indicative proposal is highly conditional, being subject to considerable further due diligence, confirmation of financing and a number of other significant conditions,” it added.
