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Spirited away

25 May 2011 By Quentin Webb

The UK drinks group is on the M&A trail again, eyeing up tequila maker Jose Cuervo. A limited number of targets means Diageo has been an infrequent acquirer, and can now afford to fill gaps in its liquor cabinet. With no auction in prospect for Cuervo, Diageo needs to stay sober.

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