United Spirits shares surge on Diageo open offer

Shares in United Spirits gained more than 10 percent on Tuesday after Diageo Plc announced a tender offer to acquire up to an additional 26 percent stake in the Indian firm.

Diageo is seeking to acquire additional shares in United Spirits at 3,030 rupees a share, up from its Friday's closing price of 2,557.25 rupees. The offer will be launched in June, said the statement.

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