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Diageo (DEO) Makes Bid For Controlling Interest in United Spirits

Stocks in this article: DEO

NEW YORK (TheStreet) -- The world's largest spirits maker Diageo  (DEO) has made a $1.9 billion play to take control of India's United Spirits.

The London-based company said it had made an offer to double its stake in the company, offering the equivalent of $50.30 a share. Diageo hopes to purchase 26% through this transaction, increasing its stake to 54.78%. 

United Spirits' board and shareholders have until June 24 to consider the latest offer.

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DEO ChartDEO data by YCharts

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