ALERT: Pernod Wins Bid for Absolut

The Wall Street Journal is reporting that France’s Pernod Ricard has won the auction to acquire Vin & Sprit, according to people familiar with the matter. The details of the winning bid are not immediately clear, says WSJ, but V&S is expected to sell for as much as $7 billion. An announcement is expected on Monday.This comes as a surprise since most analysts predicted that Fortune Brands would gain Absolut, particularly since Fortune already distributes Absolut in the U.S. Bacardi