Shares in United Spirits Ltd gained as much as 15 per cent to a record high of Rs. 2,940.80 after Diageo Plc announced a tender offer to acquire up to an additional 26 per cent stake in the Indian firm at Rs. 3,030 a share. The offer will be launched in June.
Diageo is seeking to acquire additional shares in United Spirits at Rs. 3,030 a share, up from its Friday’s closing price of Rs. 2,557.25. The offer will be launched in June, said the statement.