Offers submitted for Seagram drinks

- Last updated on GMT

Related tags: Seagram, Financial times

Three groups were understood to have submitted offers for the
Seagram spiritsbusiness on Monday, on the first trading day of the
group's new parent,Vivendi...

Three groups were understood to have submitted offers for the Seagram spiritsbusiness on Monday, on the first trading day of the group's new parent,Vivendi Universal, the Financial Times reported. The three bidders - AlliedDomecq; a joint venture between Diageo and Pernod-Ricard; and a partnership ofBacardi and Brown-Forman - are all understood to have taken last-minute stepsto prevent further surprises from affecting the auction. The presence of allthree suitors is expected to ensure that Vivendi will secure a price of morethan $7.5bn for the assets, sources said. The Financial Times commented thatthe outcome of the Seagram auction could change the competitive landscape ofthe spirits industry for years to come.

Related topics: Market Trends

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