US authorities have given Pernod Ricard the green light for its proposed takeover of Britain's Allied
Domecq.
The French group said the US Federal Trade Commission and Department of Justice had given clearance for the deal, subject to the implementation of its agreement with Fortune Brands.
Pernod's £7.4 billion offer for Allied was made with assistance from US rival Fortune Brands, which produces Jim Beam bourbon. The US Federal Trade Commission and the DoJ have given clearance for most of the brands Pernod was planning to sell to Fortune Brands as part of the agreement.
But the FTC was still reviewing the sale of the Canadian Club and Maker's Mark bourbon brands and Pernod would hold on to those for the time being, the statement added.
Pernod was given the go-ahead for the Allied deal from the EU last week and on Thursday its shareholders approved an increase in the company's share capital, mainly to finance the deal. Allied shareholders were to vote on July 4 on whether to support the board in accepting the 670p per share offer, which has already been recommended by management of the British drinks giant.
