United Spirits Ltd shares rally after Diageo announces open offer

fe Bureau Posted online: Tuesday, Apr 15, 2014 at 0000 hrs
Mumbai : United Spirits Ltd shares gained 15% intraday on Tuesday after the London-based spirits maker Diageo announced 2nd open offer for a consideration of Rs 11,448 crore.

(Also Read:Diageo Plc announces tender offer for up to 26 per cent of United Spirits Ltd)

In an exchange release on Tuesday, Diageo said it seeks to acquire 3.7 crore shares representing 26% stake at a price of Rs 3,030/share. The offer if successful would take Diageo's holding to 55%.

The United Spirits shares were trading 11.5% higher at Rs 2,851 at 11.20 am on the BSE.

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