ALERT: Pernod Wins Bid for Absolut

The Wall Street Journal is reporting that France’s Pernod Ricard has won the auction to acquire Vin & Sprit, according to people familiar with the matter. The details of the winning bid are not immediately clear, says WSJ, but V&S is expected to sell for as much as $7 billion.

An announcement is expected on Monday.

This comes as a surprise since most analysts predicted that Fortune Brands would gain Absolut, particularly since Fortune already distributes Absolut in the U.S. Bacardi and Swedish investment firms EQT Partners AB and Investor AB fell out of the running earlier.

Pernod said in the past it would acquire either Stoli or Absolut, so this could mean that Pernod will drop of negations for the global rights to Stoli. Stay tuned...

Until tomorrow, Megan


--------- Sell Day Calendar ----------
Today's Sell Day: 20
Sell days this month: 21
Sell days this month last year: 22
This month ends on a: Mon.
This month last year ended on a: Fri.
YTD sell days Over/Under: +1