Pernod Ricard in takeover talks with Allied Domecq

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The two drinks companies could form a new dominant player in the market if early negotiations bear fruit

Allied Domecq has confirmed that it is in discussions with rival Pernod Ricard over a potential takeover of the UK liquor supplier. The board of Allied Domecq confirmed speculation of a potential offer from Pernod and Fortune Brands.

In a statement the Allied board said: "These discussions are at an early stage and there can be no certainty that an offer will ultimately be forthcoming. A further announcement will be made in due course."

In a separate release Pernod Ricard confirmed that it is working closely with Fortune Brands with a view to an offer, although it reiterated that at this stage there was no guarantee that an offer woiuld be made.