The French PERNOD RICARD (turnover of 3.57 billion EUR in 2004), which is associated with FORTUNE BRANDS of America, has launched a friendly takeover bid of 10.7 billion EUR for the British ALLIED DOMECQ (turnover of 4.74 billion EUR in 2004), which would make it the second largest group in the global spirits industry, behind DIAGEO. The price equates to 670 pence per share.