P529ORACLE 529 Mon20 Jan C4 1703:18   DISTILLERS BACKS  £2bn GUINNESS BID Guinness has come to the rescue of Scotch whisky giant Distillers with an agreed offer which puts a £2.27bn price tag on the company, a recgrd amount. The bid is designed to foil the £1.9bn bid from Mr James Gulliver's drinks-to- supermarkets group, Argyll. The terms offer eight new Guinness shares plus 700p in cash fgr every five Distillers ordinaries. Full acceptance of the offer for the much-larger Distillers would almost treble the size of Guinness as well as involving the payment of £508m in cash.  City headlines 500 Newsfile 520