Martell et Cie said its board unanimously...
Martell et Cie said its board unanimously approved a sweetened bid by Seagram Co. for control of the cognac maker, dealing a defeat to Grand Metropolitan PLC, the second suitor for Martell. The French company said in a statement that it is recommending to shareholders that they accept the Canadian firm’s latest offer, which values Martell at about $930 million (5.3 billion francs).
