More than seven banks are lining up to finance the recommended £9.1bn (€13.3bn) joint bid for UK-based drinks giant Allied Domecq launched today by Pernod Ricard, the French drinks group, and Fortune Brands, a US consumer group. It is Europe's largest drinks deal for eight years.

Lenders to Pernod will include JP Morgan, Morgan Stanley, BNP Paribas, Société Générale and Royal Bank of Scotland.