Diageo Offers to Sell Whyte & Mackay

Dear Client: The UK's Office of Fair Trade (OFT) announced this morning that it is considering an offer from Diageo to sell most of its Whyte & Mackay business. You'll recall Whyte & Mackay (makers of Jura, The Dalmore, Cluny, John Barr etc.) is a part of Indian drinks company United Spirits Ltd., the company Diageo currently has a 25% stake in. BACKGROUND: In November 2012 Diageo and United Spirits struck a deal for Diageo to take a 53.4% stake