UK/JAPAN: Diageo silent over Suntory, Whyte & Mackay bid rumours
Diageo is looking to divest a bulk of the W&M business
Indian financial news site Money Control reported earlier today (20 January) that the Japanese firm has made an offer of just below US$1bn for the entire Whyte & Mackay business. It comes a week after Suntory announced plans to acquire Beam Inc for US$16bn.
Suntory's bid for W&M has the backing of three private equity investors, according to unnamed sources quoted by Money Control.
Diageo has offered to sell off the “bulk” of Whyte & Mackay to satisfy the UK's Office of Fair Trading, in light of its taking control of the Scotch producer's owner, United Spirits, in July.
Suntory has yet to respond to a request for comment.
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