Drinks giant Diageo has been identified as a prime candidate for a takeover attempt, as the company’s shares hit the lowest since October 2020.
Diageo, which has a portfolio that includes Guinness, Smirnoff, Baileys and Captain Morgan, has been labelled a takeover target by analysts, reported This Is Money.
The news comes amid a difficult period for the alcohol FMCG, which has been attempting to reverse a slowdown in sales.
Subscribe to Grocery Gazette for free
Sign up here to get the latest grocery and food news each morning
Earlier this year, Diageo began exploring the sale of British popular summertime drink Pimms, alongside fruit liqueur brand Safari and rum brand Pampero.
It follows the drinks giant having issued a profit warning in November 2023, amid rumours that it is also seeking to sell it’s beer brands as profit crashed to a three-year low.
Diageo has become the latest company to be eyed-up for a takeover, following reports of US delivery service Doordash considering Deliveroo last week.
Similarly, London-listed soft drinks manufacturer Brtivic is understood to be anticipating a third bid from Danish brewer Carlsberg, after rejecting two previous bids last month.
