Diageo's United Spirits Offer Delayed

Diageo’s open offer for acquiring up to 26% of shares in United Spirits (USL) has been delayed as regulatory clearances are still to come by. The Rs5,441-crore(US$992.8 million) open offer that was tentatively scheduled to have taken place between Jan. 7 and Jan. 18 has still to get approval from the Securities and Exchange Board of India (Sebi). (Daily News & Analysis India)