Sensex 26867.55 229.44 0.86%
Nifty 8027.7 73.35 0.92%
Diageo Plc of the UK is planning to acquire 51% stake in Vijay Mallya-promoted United Spirits Ltd (USL) this week, according to reports.
Reports stated that Under the takeover code, any entity buying a 25% stake in a company is required to make an open offer.
The deal size is likely to be about $2 bn (around Rs.108.20bn), says reports.
India Infoline News Service / 08:59, Aug 25, 2014
The outlook is a flat start. The BankNifty has given a breakout but many of the large caps are remaining in a range keeping the main indices under pressure.