Allied Domecq receives indicative proposal from Constellation Brands Consortium
The proposal is highly conditional, being subject to considerable further due diligence, confirmation of financing and a number of other significant conditions.
16/05/05 On 27 April, 2005, Allied Domecq PLC announced that it had received an approach regarding a potential offer by a consortium led by Constellation Brands. The consortium consists of Constellation Brands Inc., Brown-Forman Corporation, Lion Capital (formerly Hicks Muse Europe) and Blackstone Group.
Allied Domecq announces that it has now received an indicative proposal from the Consortium regarding a potential offer. The indicative proposal is highly conditional, being subject to considerable further due diligence, confirmation of financing and a number of other significant conditions. It is too early to ascertain whether the indicative proposal will translate into a firm offer for Allied Domecq.
Allied Domecq and its advisers will continue to discuss the indicative proposal with the Consortium and determine whether certainty can be established. In the meantime, Allied Domecq will continue to progress the offer made by Pernod Ricard S.A. which was announced on 21st April, 2005.
