The Guinness brewing company began a court...
The Guinness brewing company began a court action challenging a British Takeover Panel ruling that it acted unfairly during its $4.77-billion (2.7-billion pound) takeover of Distillers Co. Guinness is asking the British High Court to reverse a panel decision last year that said Guinness acted wrongly by indirectly buying Distillers shares in the final days of the takeover battle in 1986. The panel decision, if upheld, could cost Guinness as much as $354 million in compensation to Distillers.
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