PARIS - J.P. Morgan & Co. and Societe Generale SA were selected to advise Pernod Ricard SA on its joint acquisition bid with Diageo PLC for Seagram Co.'s Chivas Regal and other liquor brands.
Seagram is one of the last prizes available to liquor companies as they combine to cut costs and focus on well-known liquors amid slowing demand.
Allied Domecq PLC has said it also plans to bid for the business. Diageo teamed up with Pernod to avoid trouble with regulators if it tried to buy the Seagram unit by itself. The companies would not say how much they plan to offer for the maker of Captain Morgan rum, but analysts said the price could rise as high as $9 billion.