Jose Cuervo to remain Mexican owned

From the GUADALAJARA REPORTER:

"Jose Cuervo stays in local hands as Diageo deal breaks down"

"British drinks giant Diageo will not be purchasing Jose Cuervo and will end its international distribution deal with the Jalisco-based company next year.

For most of this year Diageo has been in ongoing discussions with Cuervo – the world’s biggest selling tequila brand and the oldest distillery in Mexico – over their relationship.

Diageo, which owns major brands such as Johnnie Walker, Buchanans, Smirnoff, Captain Morgans and Baileys, had been widely expected to complete a deal worth around three billion dollars with Cuervo’s Mexican owners, the Beckmann family. But the Beckmanns are understood to have valued Cuervo at up to 500 million dollars more than Diageo, who were concerned that a significant investment would be required to improve margins and boost falling sales in the United States.........
http://theguadalajarareporter.com/news-mainmenu-82/national-mainmenu-86/32224-jose-cuervo-stays-in-local-hands-as-diageo-deal-breaks-down.html

Just a small difference of opinion about the company value!