Diageo Heats Up, But Deal Fever Cold

The problem with going out with the "rumor as news" angle is you get folks who only pick up the juicy part, ("A-B and Diageo may be hooking up") and ignore the mundane part, ("I don't buy it" and "this could just be much ado about nothing"). That may be why Diageo's stock rallied nearly 2% in a down market yesterday. The UK financial press certainly picked it up and ran with it. The FT Alphaville column, which called BBD