News Briefs for February 19, 2019February 19, 2019
•Analysts at Berenberg have suggested that Diageo and Moët Hennessy could team for a joint acquisition of Pernod Ricard.
Berenberg said “an efficient split of brands between LVMH and Diageo should overcome any regulatory hurdles that such a deal would face.” The analyst speculation comes following activist investor pressure on Pernod in recent months, with minority shareholder Elliott calling for changes at the French drinks giant. Pernod has engaged in a dialogue with Elliott, but CEO Alexandre Ricard tamped down suggestions last week that Pernod could be a takeover target, stating that “Pernod Ricard is and will remain a consolidator.”
•Italian authorities have arrested three suspects in a scheme to sell at least 11,000 counterfeit bottles of the legendary super Tuscan wine Antinori Toscana Tignanello in Italy, Germany, and Belgium. First reported by Italian media, the arrests were confirmed to Wine Spectator by Alessia Antinori, vice president of Marchesi Antinori. She said the bottles were labeled as the 2009, 2010, and 2011 vintages of Tignanello but were filled with low-quality wine. Wine Spectator has more.Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.