Guinness PLC launched a new bid for Distillers Co.

The brewing giant raised its bid for Distillers to the equivalent of $3.5 billion, coupling the offer with a revision aimed at meeting antitrust objections to the deal. Engaged in a protracted battle with Argyll Group PLC, Guinness dropped its previous $3.2-billion offer for Distillers, which was to be the subject of an antitrust investigation by the British government. The new bid tops Argyll’s rival offer of $3.3 billion for Distillers, a maker of gin and Scotch whisky. Distillers’ management has supported the Guinness effort and opposed the bid by Argyll, a supermarket chain.