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26 April 2005

It is reported that a bidding war could be brewing for the Allied Domecq plc business after Pernod Ricard made their offer last week. Constellation Brands (mainly a wine company) have been forced to show their hand under the Take-over Panel rules and have expressed interest in the business. Newspaper reports say 'they are studying their options'. Barcardi and Brown Forman of the US are also reported to be showing interest, perhaps in conjunction with Constellation Brands. Since the Allied Domecq + Ricard Pernod deal was not subject to an exclusivity clause, other parties have 42 days to make their offer.

April 21, 2005

Pernod Ricard, the privately owned French drinks business, and US partner Fortune Brands are to buy Allied Domecq plc for a reported £7.4 billion or £6.70p per share. It is thought to be mainly a cash deal. Pernod Ricard were not able to raise the full funds themselves and therefore found a partner in Fortune Brands who are only interested in breaking up Allied Domecq plc and to acquire some of their famous brands. The financial arrangements are complicated and the final sale may not take place until later in the year. There is doubt about the future of the quick service restaurants, Dunkin' Donuts and Baskin Robbins.

With the Allied Domecq plc pension funds heavily under-funded pensioners, (including those who worked for the previous Beer and Wine & Spirits Divisions and who might be reading this news) might like to write to the Chief Executive of Allied Domecq plc asking what arrangements have been made to ensure the Funds are protected.

Philip Bowman
Chief Executive
Allied Domecq plc
The Pavilions
Bridgwater Road
Bedminster Down
Bristol BS13 8AR