Diageo (DEO) Stock Declines as Merger Talks Appear Unlikely

NEW YORK (TheStreet) -- Diageo (DEO) shares are falling 3.21% to $114.21 in afternoon trading on Monday following an analyst note suggesting that the potential takeover of the Johnnie Walker and Crown Royal spirits manufacturer was unlikely.

Analysts at Evercore said that an acquisition was highly unlikely following reports on Veja, a Brazilian news agency, that said that the company is a takeover target of Brazilian billionaire Jorge Paulo Lemann.

The stock jumped more than 8% on Friday following the report.

However, the stock is declining today as the Wall Street Journal reported that the company has not made the required disclosure filings signifying that it is engaged in merger talks.

DEO Chart DEO data by YCharts

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