On 12 May 1997 it was announced in London that the world's two largest distillers, Grand Metropolitan P.L.C. and Guinness P.L.C. would merge. The mer ger, valued at $22.27 billion, was the fifth largest in history. The merger reflected the concern of the distillers over the decline in the consumption of liquor as affluent consumers of distilled spirits have aged. The merged company will be called GMG Brands. In addition to distilled spirits GMG Brands is a major brewer and owns hotels, food manufacturers (e.g., Pillsbury), and the Burger King fast food chain. David Fahey (Miami University) [log in to unmask]