Pernod Ricard Swallows Absolut

The high $8.9 billion bid rattled Pernod investors, but the Swedish vodka brand has a big following, a memorable ad campaign, and nowa French owner

French drinks giant Pernod Ricard (PERP.PA) bellied up to the acquisition bar on Mar. 31, announcing an $8.9 billion deal for Swedish vodka brand Absolut. The purchase puts one of the world's top-selling liquors into Pernod's cabinet, while strengthening its U.S. presence and boosting its total sales to within striking distance of Diageo (DEO), the global No. 1 spirits group.

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