After months of back-and-forth speculation, Diageo and India's United Spirits Ltd have struck a deal. Diageo said this morning it will spend up to $2 billion for a controlling 53.4% stake in the company, reports Wall Street Journal. Under the deal, Diageo will initially take a 27.4% share in United Spirits and then launch an offer to the group's shareholders for an additional 26% of the company.