HUL, GSK approve Rs 317-bn merger in all equity deal

As per new business repoprts, Hindustan Unilever and GlasoSmithKline are going to transact each other’s business in all equity deal valuing at Rs 317 billion. GSK will get 5.7% in HUL shares while HUL’s share in India division will decrease by 5.7% to approximately 60%.

After this deal; HUL will get distribution rights of major GSK brands including Horlicks and other health drink brand along with Sensodyne, crocin, Iodex and more. This deal will make Hindustan Unilever; the largest food company in India ahead of Nestle, Coca-Cola, ITC and other competitors.

 

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