Diageo delays tender offer, source says

Shares in beverages giant Diageo dropped lower on Monday after reports that its mandatory share tender offer to acquire a further stake in Indian spirits group United Spirits has been delayed in the absence of regulatory approval from the relevant Indian authorities.

Shares in beverages giant Diageo dropped lower on Monday after reports that its mandatory share tender offer to acquire a further stake in Indian spirits group United Spirits has been delayed in the absence of regulatory approval from the relevant Indian authorities.

According to Reuters, the reports are said to come from a "source with direct knowledge" of the matter.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up
MoneyWeek

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.