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Drinks company has share rise

SHARES in Remy Cointreau have risen by nearly 4%, having surged by as much as 10% during yesterday, amid speculation US drinks giant Brown-Forman was mulling a bid for the Bruichladdich owner.

Remy is understood to be vulnerable to a potential takeover as it continues to struggle with falling Cognac sales in China.

Kentucky-based Brown-Forman, which owns Jack Daniel's, has a stock market value of $19bn, compared with Remy's 2.9bn Euro ($4bn). Remy shares closed up 3.59% at 61.2 Euro.

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