Sensex 29278.84 272.82 0.94%
Nifty 8835.6 74.2 0.85%
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 / 09:04, Jan 22, 2015
The outlook is a flat start. The market will look to scale to new peaks though not much effort is needed for the same. HUL saw a rally and short-covering may have pulled it up further. Speculation is on that its parent will raise stake through an open offer. After the cooling in oil prices, Cairn results will be in focus.