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Hiram Walker quit a deal to sell its liquor business.

May 23, 1986

Hiram Walker Resources Ltd. said it has withdrawn from an agreement to sell its liquor business to Allied-Lyons PLC of Britain for about $2 billion. But a lawyer in New York for Allied-Lyons said that the company had an enforceable contract to buy the business and that it expected the sale to be completed. Hiram Walker agreed to the sale in March while it was fighting a takeover bid by Gulf Canada. But Gulf Canada later succeeded in buying 69% of Walker's stock and is now trying to keep the liquor group.

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