Diageo Surges On Report Of Buyout Talks

(RTTNews) - The U.S.-listed shares of Diageo Plc (DEO) surged in intra-day trading Friday on a report that Brazilian billionaire Jorge Paulo Lemann is considering a takeover bid for the liquor giant.

Lemann and other executives are in early stages of mulling an acquisition, Bloomberg reported, citing Veja columnist Lauro Jardim.

London, the United Kingdom-based Diageo owns famous brands such as Johnnie Walker, Crown Royal, Ketel One and Guinness.

Lemann's private equity firm 3G Capital orchestrated the $52 billion 2008 buyout that created Anheuser-Busch InBev (BUD), the world's largest brewer.

Diageo closed Friday's regular trading session at $118.00, up $8.70 or 7.96.