Date: 18th December 2000
Surprising many analysts, Britain's Diageo P.L.C. and its partner, France's Pernod-Ricard S.A., appear to have outbid the favored suitor, Allied Domecq, for Montreal-based Seagram's wine and spirits business. According to published reports, the companies this morning (Monday) submitted a final offer of $8.2 billion to Seagram's current owner, France's Vivendi Universal, and could sign a deal by the end of the day. When Vivendi acquired Seagram, it said that it was interested only in the company's entertainment assets and would sell the beverage business to reduce debt.
Source: Studio Briefing