POISON PILL UP FOR APPROVAL

Pernod Ricard will reportedly ask its shareholders next month to approve a new “poison pill” measure meant to protect investors in the event of a hostile takeover bid, according to Dow Jones newswires. If the measure is approved, it would give Pernod’s board the right to issue new bonds to existing shareholders exchangeable into free shares, making any bid more expensive, in an event of a hostile takeover.

The “poison pill” measure will be voted on at Pernod’s next shareholders’ meeting on November 7.