Diageo tender offer next year

Diageo will launch a mandatory share tender offer to buy up to 26 per cent additional stake in India's United Spirits from public shareholders on 7 January, the manager to the offer said in a notice to the Bombay Stock Exchange. Earlier this month, Diageo agreed to buy a majority stake in United Spirits, controlled by Indian businessman Vijay Mallya, for $2.1bn, fuelling a push by the world's biggest spirits group into fast-growing markets. The tender offer will close on 18 January, JM Financial said in a notice to the exchange.