HUL, GSK Consumer shares rise 4 pc after boards approve merger

Published On 2018-12-05 04:27 GMT   |   Update On 2021-08-16 07:50 GMT

New Delhi: Shares of Hindustan Unilever and Glaxo Smith Kline (GSK) Consumer Healthcare Monday surged 4 per cent on BSE after their boards approved the merger of the two companies.


The stock of HUL jumped 4.12 per cent to close at Rs 1,825.90. Intra-day, it gained 4.89 per cent to hit the 52-week high of Rs 1,839.5.






Anglo-Dutch FMCG giant Unilever Monday said it will acquire health food and drinks portfolio of GSK in India and over 20 other markets predominantly in Asia for a consideration of 3.1 billion pounds.


As part of the transaction, Unilever's Indian arm Hindustan Unilever will acquire GSK Consumer Healthcare (GSK CH India) via an all-equity merger, valuing the total business of the latter at Rs 31,700 crore.


In separate regulatory filings, HUL and GSK announced that their respective boards have approved their merger.

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