Arnault heading for GMG board
Sunday 29 June 1997
The meeting this week was called for by Guinness chairman Tony Greener when the merger was announced last month in order to thrash out differences with Mr Arnault, who has made his opposition to the deal known from the outset.
Both sides now appear to be prepared to compromise in order to allow the merger to proceed unhindered by a dispute that has provided a high profile distraction.
Apart from the dispute being taken to arbitration, Mr Arnault has also accumulated a 6.4 per cent stake in Grand Met to add to the 14 per cent he owns in Guinness.
Although Mr Arnault could be offered the opportunity to sell his stake in Moet Hennessy to GMG Brands, he has made it clear throughout that he would prefer participation in the merged company.
The GMG camp does not regard the dispute with Mr Arnault as a deal breaker. It is clear Guinness and Grand Met would prefer to work with Mr Arnault than against him - the Moet Hennessy brands are regarded as a crucial element of the merger.
Mr Arnault has a seat on the Guinness board, but he was not initially offered a seat on the GMG Brands board. The promise of a directorship along with arrangements to ensure Moet Hennessy full participation in the enlarged UDV spirits business are thought to be sufficient to win Mr Arnault's support for the proposed merger.
- 1 Gun instructor accidentally shot dead by nine-year-old girl with Uzi gun
- 2 Miley Cyrus' homeless MTV VMAs date, Jesse Helt, is wanted by the police
- 3 Notting Hill Carnival: Woman shares selfie after being ‘punched in face for telling man to stop groping her’
- 4 Pamela Anderson rejects ice bucket challenge because of ALS experiments on animals: 'Mice had holes drilled into their skulls'
- 5 Homer Simpson has taken the ALS ice bucket challenge because of course he has
Kensington flat branded ‘uninhabitable’ by estate agent on sale for a bargain £600,000
Gun instructor accidentally shot dead by nine-year-old girl with Uzi gun
Miley Cyrus' homeless MTV VMAs date, Jesse Helt, is wanted by the police
Notting Hill Carnival: Woman shares selfie after being ‘punched in face for telling man to stop groping her’
The 13 obscure UK laws you didn’t know you were breaking
Exclusive: We share blame for creating 'jihad generation', says Muslim strategist
Robin Williams Emmys tribute led by Billy Crystal criticised for including 'racist' joke about Muslim woman
The Rotherham child abuse scandal is a tale of apologists, misogyny and double standards
Scottish independence TV debate: Pumped-up Alex Salmond bounces back in bruising second round against Alistair Darling
Jeremy Clarkson is a cultural tumour and needs to be removed, says comedian Frankie Boyle
Do you realise just how foolish the UK looks?
- < Previous
- Next >
iJobs Money & Business
£40000 - £48000 per annum + benefits+bonus+package: Harrington Starr: C# Devel...
£45000 - £60000 per annum + benefits+bonus+package: Harrington Starr: C# Swift...
Negotiable: Harrington Starr: A fast growing Financial Services organisation b...
£50000 - £60000 per annum + excellent benefits: Harrington Starr: An award-win...