Born from a takeover
Guinness completed its takeover of the Distillers Company Limited in April 1986.6,7 It was later found to have manipulated its own share price to pay for the deal.6,7 Guinness had bought Arthur Bell & Sons in a hostile takeover two years before forming United Distillers, which joined Bell’s with the Distillers Company.1,2,3 On 7 October 1987 the Distillers Company itself was renamed United Distillers Limited.7,8