Associated Press--Four men convicted 12 years ago of trying to rig the share price of brewer Guinness PLC
began a new attempt last week to have their convictions overturned.
Diageo has sold smaller brands accounting for about 15 percent of its annual volume since its creation in 1997, when Grand Metropolitan Plc and Guinness Plc
ARTHUR BELL DISTILLERS evolved in 1986 as a result of a series of acquisitions by Guinness plc
Faced with a steady decline in liquor consumption in their traditional markets, the world's two biggest distillers, Grand Metropolitan PLC and Guinness PLC
, agreed Monday to a merger valued at about $22.
A former chief executive of Guinness PLC
and three co-defendants lost a fresh appeal last week against their convictions in a scheme to rig Guinness' share price during a takeover battle for Scottish liquor company Distillers.
McGrath was group chief executive of Grand Metropolitan Plc until it merged with Guinness Plc
to form Diageo in 1997.
Lehman Brothers British office has released a report in which analysts suggest a "demerger" which would undo the conglomerate that was formed when Gran Met PLC and Guinness PLC
merged in 1997.
The French company signed the pact with Grand Metropolitan Plc 15 years ago but found itself competing with rival bourbons, such as George Dickel, when GrandMet merged with Guinness Plc
last year to form Diageo.
Tony Greener, chief executive officer of Guinness PLC
since January, will succeed Tennant.
London-based Guinness PLC
plans to borrow up to $1 billion for "a variety of corporate purposes," which could include acquisitions, the company reported.