Diageo out to seduce United Spirits shareholders with $1.9bn offer
Diageo will launch a $1.9bn offer to buy a majority stake in India's United Spirits and cement its position in the world's largest whisky market.
UK spirits giant Diageo is already the largest shareholder in United Spirits (Bagpiper, Black Dog, Director's Special are three key brands) with a 28.8% stake, and is now seeking to purchase an additional 26% from other shareholders in the India company.
The deadline for acceptance is June 22, with Diageo offering INR 3,030/share (roughly $50), a 22.5% premium on the price it last paid for United Spirits shares when it bought them on January 31.
