Dear Diageo: Thanks for for Buying Ketel One

Diageo, flush with its announced purchase of 50% of Ketel One vodka for $900 million, has decided not to bid for Absolut vodka. "We didn't submit a bid for Absolut," a spokeswoman told Dow Jones. "We did register an interest late last year but after an internal review looking at what options there were, we felt that the deal that we did last night was a better strategic fit for Diageo." That has to be good news for Fortune Brands,