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Fortune Brands has lost their bid on Absolute to Pernod Ricard. In the Wake of this the board of Fortune Brands approved a large stock buy back program. Also Fortune brands will keep the rights to distribute Absolute in the U.S. until 2012 when Pernod Ricard will take over that as well. So FO gets to make money off the deal for a while longer and we the stock holders get a buy back program a win win situation.
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