HUL gets a 'Horlicks' boost!
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Yesterday and then again today morning, Hindustan Unilever hit a new high. Yesterday, it was at Rs.1839.50 and today, it is at Rs.1848.85. But from there, it has seen incessant profit booking and it is now in the red at Rs.1806, down over 1%.
Literally making history, announcing the largest FMCG deal, HUL yesterday stated that it will merge GlaxoSmithKline Consumer Healthcare India (GSK CH India) with itself for a transaction worth Rs 31,700 crore.
This is to an all-equity merger wherein every share of GSK CH will get 4.39 shares of HUL. Following the issue of new HUL shares, Unilever’s holding in HUL will be diluted from 67.2% to 61.9%.
HUL will now get the entire basket of consumer goods of GSK which includes well known brands like Horlicks, Boost, Viva, Maltova. HUL will also distribute GSK’s Sensodyne, Eno and Crocin brands.
In this merger, HUL will also acquire a 82% stake in GSK Bangladesh and acquire other commercial operations in 20 other Asian countries.