United Spirits Ltd shares rally after Diageo announces open offer

Apr 15 2014, 13:00 IST
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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%. (AP) 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%. (AP)
SummaryDiageo said it seeks to acquire 3.7 crore shares representing 26% stake at a price of Rs 3,030 per share.

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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