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Diageo plc's Open Offer For United Spirits Ltd Shares Delayed-Economic Times


Monday, 7 Jan 2013 07:14pm EST 

The Economic Times reported that Diageo plc's mandatory share tender offer to buy up to 26% additional stake in India's United Spirits Ltd has been postponed as the companies are yet to receive Indian regulatory approvals. Diageo in November agreed to buy a majority stake in United Spirits LtdBSE -1.94 % for $2.1 billion. The tender offer, which is part of a two-tranche deal that will give Diageo a 53.4% stake in India's spirits company, was set to start on Monday and close on January 18. 

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