Bernstein: Diageo Could, Should Sell Moet Hennessy

Dear Client: Because Diageo sat on the sidelines of sector consolidation for many years, it came out of the economic crisis very well compared to many of its competitors. This put Diageo in a great position as the market entered into a healthy M&A phase that is still continuing today, says a new note from Bernstein. So what's next for Diageo's potential M&A strategy going forward? BEAM BID UNLIKELY IN NEAR TERM: Apart from Diageo, Beam is the largest spirits