Analysts at Berenberg have reportedly suggested that Pernod Ricard, the French drinks company being targeted by activist investor Elliott Management, could receive a joint bid by luxury group LVMH Moet Hennessy Louis Vuitton and rival distiller Diageo.
It is believed that luxury analysts at the company said that LVMH could take the lead in a potential bid, estimating that the group has close to $40 billion in reserve for takeovers.
It added that such a deal would end a joint venture between LVMH and Diageo that has been in place since 1987.
It will, however, mean that Ireland’s most renown drinks, Guinness and Jameson, will have been brought together under a single corporate entity.
Berenberg noted that it would require regulatory clearance, and may struggle to do so, but The Irish Independent quoted Pusz saying that "an efficient split of brands between LVMH and Diageo should overcome any regulatory hurdles that such a deal would face."
© 2019 Checkout – your source for the latest Irish retail news. Article by Aidan O’Sullivan. Click subscribe to sign up for the Checkout print edition.
