Diageo stands by for £10.6bn pop at champagne maker Moet Hennessy

on 25/10/10 at 8:44 pm

Industry

Advisers to Diageo have been put on red alert for a possible £10.6bn takeover of Moet Hennessy, LVMH’s drinks division.

The luxury goods group that is home to Dom Perignon champagne and Louis Vuitton bags, announced on Saturday that it had bought a 14.2pc stake in French rival Hermès.

LVMH, led by France’s richest man Bernard Arnault, is renowned for making such moves on the eve of a full blown assault.

Despite announcing it had no such intention, industry insiders are bracing themselves for Mr Arnault’s “check mate manoeuvre”.

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