LVMH boss Bernard Arnault says has no hand in activist Elliott targeting rival Pernod Ricard
Story highlights
There has been media speculation that Pernod' rivals like LVMH or Diageo could have their eyes on some of the brands of Pernod Ricard which is facing pressure from Elliott to bolster its profit margins.
LVMH, owner of Moet & Chandon champagne and Hennessy cognac, does not want to destabilise Pernod Ricard and has nothing to do with activist investor Elliott buying a stake in the French spirits group, its Chairman and CEO said on Tuesday.
LVMH billionaire boss Bernard Arnault, who described relations with Pernod Ricard CEO Alexandre Ricard as "friendly, made the comments at a news conference on the luxury group's annual results.
There has been media speculation that Pernod' rivals like LVMH or Diageo could have their eyes on some of the brands of Pernod Ricard which is facing pressure from Elliott to bolster its profit margins.
trending now
At least three injured after Russian regions hit by Ukrainian shelling, drones: Moscow
LeT founding member and aide of 26/11 mastermind Hafiz Saeed gunned down in Karachi: Report
'What sets them apart is dedication': Coach Ajith Markose on Asian Games medallists Kartik and Gulveer
Spain: Six killed in nightclub fire in Murcia city, death toll likely to rise
UN mission arrives in Karabakh for first visit in nearly 30 years
Turkey says blast near parliament building a 'terrorist attack'
Parineeti and Raghav share playful glimpse from 'not-so-traditional' wedding ritual
Apple admits software bug behind iPhone 15 Pro overheating: Report
Pro-Russian ex-PM Fico wins Slovak election, now seeks allies for govt
Morning brief: Biden signs stopgap funding bill, Afghan embassy in India to stop operations, and more
Jennifer Aniston, 54, shares her four-rule fitness mantra to stay in shape
US government averts shutdown last minute, passes stopgap funding bill
UK to deploy military instructors to Ukraine, says British defence minister
Afghan embassy in India announces decision to cease operations from Oct 1
Taylor Swift enjoys girls' night out with Blake Lively, Sophie Turner
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
US activist fund Elliott said in December it had spent around 930 million euros ($1.1 billion) to build a stake of just over 2.5 per cent in the world's second-biggest spirits maker.
Elliott has called on Pernod Ricard to raise profit margins to bring them more in line with larger rival Diageo and improve governance.
recommended stories
US House of Representatives passes bipartisan bill to avoid government shutdown
Yudh Abhyas: Indian, US armies collaborate in joint tactical exercise held in Alaska
Top 10 world news: Over 100,000 people fled Karabakh, Romania reports airspace breach amid Ukraine war & more
Kieran Culkin in Succession: A career-defining performance
Israeli female soldiers banned from prison guard duty after alleged sex with Palestinian inmates
Anushka Sharma and Virat Kohli expecting baby no.2 ? Here's what the new rumour say
Maldives: Thousands vote in presidential run-off that will decide India-China power play
China pushes for second 12,000-Satellite megaconstellation to challenge SpaceX dominance
Australian woman becomes world's first person to survive deadly flesh-eating bacteria
Warplane flying below civilian plane: China's 'Trojan horse' flight detected near Taiwan
Donald Trump's wife Melania Trump renegotiates prenuptial agreement
Romania reports 'airspace breach' during Ukraine attacks, Zelensky attracts arms makers
Europe’s oldest shoes | Researchers find 6,000-year-old sandals in Spanish bat cave
Astronomers capture first direct evidence of Black Hole spinning
)
)
)
)
)
)
)
)
)
)
)
)
)
)
recommended stories
US House of Representatives passes bipartisan bill to avoid government shutdown
Yudh Abhyas: Indian, US armies collaborate in joint tactical exercise held in Alaska
Top 10 world news: Over 100,000 people fled Karabakh, Romania reports airspace breach amid Ukraine war & more
Kieran Culkin in Succession: A career-defining performance
Israeli female soldiers banned from prison guard duty after alleged sex with Palestinian inmates
Anushka Sharma and Virat Kohli expecting baby no.2 ? Here's what the new rumour say
Maldives: Thousands vote in presidential run-off that will decide India-China power play
China pushes for second 12,000-Satellite megaconstellation to challenge SpaceX dominance
Australian woman becomes world's first person to survive deadly flesh-eating bacteria
Warplane flying below civilian plane: China's 'Trojan horse' flight detected near Taiwan
Donald Trump's wife Melania Trump renegotiates prenuptial agreement
Romania reports 'airspace breach' during Ukraine attacks, Zelensky attracts arms makers
