date:Dec 12, 2012
n expected to take a stake in the business with the possibility of gaining majority control at a later date.
But the firm said in a statement on Tuesday that discussions had broken down without agreement, after the two companies had been wrangling over price for more than a year.
RBC analysts noted that Cuervo only accounted for about 3 percent of Diageo revenue and 2 percent of profit, and said the failure of the deal might free up funds for other transactions.
A weekend newspaper report sai