Hiram Walker’s board endorsed Gulf Canada’s bid.

Directors of Hiram Walker Resources recommended that stockholders accept Gulf Canada Corp.’s sweetened $2.38-billion offer to acquire the Canadian distilled spirits and energy concern. Hiram Walker had rejected Gulf Canada’s initial bid and had accepted a rival offer from TransCanada Pipelines. But TransCanada withdrew its offer, four days after Gulf Canada raised its bid. However, Gulf Canada apparently will not obtain Hiram Walker’s liquor business even if its tender offer is successful. Hiram Walker, in its initial attempt to thwart Gulf Canada’s bid, agreed to sell that business to Allied-Lyons of Britain for about $1.9 billion.