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.
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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.