Pernod Ricard, the French distiller being targeted by activist investor Elliott Management, could fall prey to a joint bid by luxury group LVMH Moet Hennessy Louis Vuitton and rival distiller Diageo, according to analysts at Berenberg. Pernod Ricard, the French distiller being targeted by activist investor Elliott Management, could fall prey to a joint bid by luxury group LVMH Moet Hennessy Louis Vuitton and rival distiller Diageo, according to analysts at Berenberg. Elliott disclosed a stake in Paris-based Pernod Ricard, the world's second-largest distiller, in December. A spokesman for Pernod Ricard referred to comments made last week by CEO Alexandre Ricard, who said the French distiller "will remain a consolidator". LVMH CEO Bernard Arnault brushed off speculation in January that he might have had a hand in pushing Elliott on the Pernod Ricard front.

Source: Irish Independent February 19, 2019 02:26 UTC