Lawyers for Guinness PLC said the giant...

Lawyers for Guinness PLC said the giant British brewer may have to pay about the equivalent of $180 million to former shareholders of Distillers Co. PLC unless it manages to overturn a ruling that it ducked Britain’s takeover code. It was the first time Guinness had given an estimate of its potential liability under the ruling. David Oliver, the lawyer representing Guinness, told the High Court: “At the moment, it is the Guinness contention that it shouldn’t have to pay anything.” Guinness has, however, admitted arranging for the apparently illegal repurchase of its stock in an apparent effort to boost its price and make its bid for Distillers more attractive.