Wine market

Constellation Brands, the world's largest &to=http:// english.pravda.ru/culture/2001/08/28/13580.html ' target=_blank>wine group, formally approached Allied Domecq yesterday to explore a possible consortium-based takeover bid that could scupper the Ј7.4bn sale to French group Pernod Ricard, agreed only last week.

American firm Constellation is working on the potential offer with Brown Forman, maker of Jack Daniel's, as well as private equity groups Blackstone and Lion Capital, formerly Hicks Muse Europe.

Allied was quickly satisfied that the consortium may provide a credible alternative to the agreed deal with Pernod, which was constructed in conjunction with Fortune Brands, maker of Jim Beam. The rival suitors have therefore been granted access to all the internal Allied data made available to Pernod before its offer, reports the Guardian Unlimited.