UK spirits giant Diageo is already the largest shareholder in United Spirits (Bagpiper, Black Dog, Director's Special are three key brands) with a 28.8% stake, and is now seeking to purchase an additional 26% from other shareholders in the India company.
The deadline for acceptance is June 22, with Diageo offering INR 3,030/share (roughly $50), a 22.5% premium on the price it last paid for United Spirits shares when it bought them on January 31.