In the City, Allied Domecq shares stood 10p lower at 352.5p in late morning trade.

BBC: Tequila graphic

Yet even as he was fixing Allied Domecq, his rivals have not stood idle.

ECONOMIST: Face value: The mixer | The

Mr Bowman's new-world ways have changed Allied Domecq, but they are not to everyone's taste.

ECONOMIST: Face value: The mixer | The

Allied Domecq has become a more attractive target since it began talks to shed its pub chain.

ECONOMIST: Business this week | The

That is more than twice the output of his segment's closest rival for market share, Allied Domecq's Clos du Bois winery.

FORBES: Harvest Time

In the past year, for example, Pernod Ricard struck a big deal to buy Britain's Allied Domecq, and France Telecom bought Spain's Amena.

ECONOMIST: Closing the borders to business | The

Suitors could include the big international spirits companies, such as Diageo or Allied Domecq, which are presently preoccupied by the bidding to buy Seagram's liquor business.

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Shares in Allied Domecq jumped on reports that Warren Buffett , through his Berkshire Hathaway investment vehicle, is spending some of its cash pile buying a stake of over 3% in the British firm, the world's second-largest wine and spirits group, which also owns the Dunkin' Donuts and Baskin-Robbins food chains.

ECONOMIST: Business this week | The

If the laws change, large beneficiaries might include large agricultural groups like Archer Daniels Midland (nyse: ADM - news - people ) and ConAgra Foods (nyse: CAG - news - people ) as potential growers or distributors and liquor businesses like Constellation Brands (nyse: STZ - news - people ) and Allied Domecq (nyse: AED - news - people ), which understand the distribution of intoxicants.

FORBES: Milton Friedman: Legalize It!