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 Research Team / 08:49, Aug 21, 2014
The outlook is a flat open. Global indices are up. The minutes from the Federal Reserve's July meeting indicate that the Fed is in no hurry to raise interest rates. The Dow added 0.35% while S&P was up 0.25%. Nasdaq ended marginally lower. Asian indices are mixed with Nikkei up almost a percent while Hong Kong's Hang Seng index is lower. South Korea's Kospi index and China's Shanghai index are also in the red.