What the Sunday papers said

Pernod Ricard and Fortune Brands are set to make an offer of more than £7bn for Allied Domecq as early as this week. Pernod, which is leading the deal, wants to move quickly - by Allied's results, on 21 April, if not sooner. Most believe Pernod and its US ally are looking at a price of 670p a share, valuing Allied at £7.4bn. But many would like to see a valuation closer to 700p - Independent on Sunday ​

Bacardi is understood to be against mounting a rival bid for Allied Domecq, according to the FT. Bacardi is thought to be opposed to bidding either independently or as part of a consortium, but would not rule out a future bid for some Allied assets, if these become available - The Financial Times (weekend edition)​

The Observer calls it differently, saying Bacardi is seeking allies with a view to tabling a counter-offer for Allied. Headed by Ruben Rodriguez, Bacardi is sounding out a number of rival spirits companies, including Brown-Forman in the States, wines group Constellation Brands, Suntory of Japan and venture capitalists for a possible £7bn bid - The Observer​

Of course, Allied Domecq's board is still waiting for a formal approach. Chief executive Philip Bowman says: "Can I just make something quite clear? We have not received a firm proposal; the board has not met to consider any proposal." - The Sunday Telegraph​

In other news, The curse of the Millennium Dome could be about to strike again. The future profitability of the controversial attraction is at risk because the structure is unlikely to be able to house a megacasino. The government was forced to climb down under Conservative Party pressure and only allow one megacasino under new gambling legislation, widely expected to be in Blackpool rather than in the dome in London's Docklands. Failure to get a megacasino will be a huge setback for the Dome's new owner, secretive US tycoon Philip Anschutz - The Observer​

Also on the gambling front, an extraordinary series of big wins at the roulette table by Philip Green, the retail billionaire, is behind a London casino's warning that its profits are likely to fall by several million pounds this year. Bhs and Arcadia owner Mr Green won an estimated £2m in one night at Les Ambassadeurs in Mayfair, owned by London Clubs International, and at least a further £1m on other gambling nights around last Christmas - The Sunday Telegraph​

The 'Inside the City' column in the Sunday Times points out that institutional fund Hermes and the related Hermes Focus Fund now hold a 7.5 per cent stake in JD Wetherspoon. With Wetherspoons cutting head office costs and reining back expansion "some people — no doubt those at Hermes among them — think this makes the company a tasty morsel in the non-stop round of pub-company takeovers." — The Sunday Times​

Barbara Cassani, former boss of budget airline Go and a key member of the team bidding to stage the 2012 Olympic Games in London, is planning to launch a chain of hotels in leading European cities. Cassani is understood to have held talks with a range of companies including Bourne Leisure, the privately owned group that includes Butlins and Haven Holidays, about backing the venture financially - The Sunday Times​

Cadbury Schweppes, the confectionery and drinks maker, is exploring a £750m sale of its European beverages arm, which includes brands such as Oasis and Orangina as well as the Schweppes mixers range. The company is likely to kick off a formal sale process for the unit, enabling it to pay off some of its £4.2bn of gross borrowings - The Sunday Times​

Whisky is enjoying a revival with younger drinkers, especially women. Latest industry figures show that while overall sales continue to drop, demand from those aged 18 to 35 has rocketed. Dominic Roskrow, editor of Whisky Magazine, said: "It is definitely noticeable that more women are trying it." - The Sunday Express​