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ALLIED AND LION ARE AT IT AGAIN

Allied Domecq, the acquisitive drinks giant, appears to be locked in another bidding battle with Lion Nathan, this time over Australian wine producer Petaluma. Following hot on the heels of Allied buying New Zealand's Montana and Lion Nathan snapping up Banksia (see Harpers, 5 October), the Antipodean brewer, 40% owned by Japanese brewer Kirin, has put in a A$7 per share (75 million) bid for Petaluma. Last week, almost overnight, Goldman Sachs - Allied's financial advisor - started bidding for Petaluma stock at levels above the offer price. At the time of going to press, Allied Domecq has not made a statement regarding the apparent bidding war.

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