United Spirits and United Breweries Holdings have surged after Diageo Plc has made an offer to acquire an additional stake in United Spirits at price of Rs 3,030. United Spirits has rallied 15% to Rs 2,941 and UB Holdings has surged nearly 20% to Rs 33.35 on the Bombay Stock Exchange.
Global drinks firm Diageo Plc announced the launch of a tender offer to acquire additional up to 26% or 37.78 million shares in United Spirits at a price of Rs 3,030 per share, JM Financial Institutional Securities Ltd & HSBC Securities and Capital Markets (India) Private Ltd, the managers of open offer said in a regulatory filing on behalf of United Sprits.
Diageo currently holds 28.8% in United Spirits and if the open offer is successful its stake in the company will rise to 54.8%, it added.
The offer will be launched in June, the statement added.
UB Holdings held 5.93% stake in United Spirits as on March 31, 2014, the shareholding pattern data shows.
Global drinks firm Diageo Plc announced the launch of a tender offer to acquire additional up to 26% or 37.78 million shares in United Spirits at a price of Rs 3,030 per share, JM Financial Institutional Securities Ltd & HSBC Securities and Capital Markets (India) Private Ltd, the managers of open offer said in a regulatory filing on behalf of United Sprits.
Diageo currently holds 28.8% in United Spirits and if the open offer is successful its stake in the company will rise to 54.8%, it added.
The offer will be launched in June, the statement added.
UB Holdings held 5.93% stake in United Spirits as on March 31, 2014, the shareholding pattern data shows.
