Irish Distillers Group Ltd. rejected a takeover...
Irish Distillers Group Ltd. rejected a takeover offer that values the company, which makes Jameson’s Irish whiskey, at 168.7 million pounds or about $312 million. The offer, proposed by a new company jointly set up by the liquor groups Cantrell and Cochrane Group Ltd. and Gilbeys of Ireland Ltd., values Irish Distillers at $4.96 a share. Gerry Dempsey, chairman of the takeover group, said the acquisition would help expand whiskey sales in Ireland and abroad and give the Irish economy a boost. In a statement, Irish Distillers’ board called the bid “totally unacceptable, unsolicited and unwelcome.” Irish Distillers is one of the country’s largest public companies.
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