Millennium Post

Diageo open offer for United Spirits to start on 10 April

UK-based Diageo Plc will kick off its over Rs 5,441-crore open offer to acquire an additional 26 per cent in United Spirits from 10 April. The open offer will close on 26 April. In a filing to the Bombay Stock Exchange (BSE), United Spirits said the manager to the open offer, JM Financial Institutional Securities Pvt Ltd has informed that the offer price shall remain at Rs 1,440 per equity share.

'..the manager has informed that the acquirer has received all applicable statutory approvals. The Tendering Period shall commence on 10 April 2013 and shall close on 26 April  2013. The offer price would be paid together with interest computed at the rate of 10 per cent per annum on the offer price from 19 March 2013 till the date of actual payment to all the public shareholders who successfully tender their equity shares in the offer, it added.
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