Diageo Takeover Rumours (DGE)

MARKET REPORT: Diageo sets pulses racing as takeover talk builds Drinks giant Diageo has become the latest household name to be labelled a takeover target. The company behind the Guinness, Johnnie Walker and Smirnoff brands has suffered a torrid 12 months as sales slow. Diageo, whose brands also include Captain Morgan and Baileys, issued a profit warning in November following problems at its Latin America and Caribbean arm. And with shares at their lowest since October 2020, analysts believe it is a sitting duck. Citi upgraded Diageo and said investors should buy the stock given it is undervalued. Shares rose 1.8 per cent, or 45p, to 2508.5p. Daily Mail