INSUBCONTINENT EXCLUSIVE:
Shares of GSK Consumer rose over 1 per cent on Monday on reports that Hindustan Unilever will merge with GSK Consumer for a transaction
valued at Rs 31,700 crore in India's largest deal in consumer goods space.
The deal is expected to be wrapped up in 12 months
The all-equity merger deal includes an exchange ratio of 4.39 HUL shares for each GSK Consumer India share, along with GSK entire operations
of nutrition business and contract to distribute the latter's over-the-counter (OTC) and oral care brands such as Sensodyne, Eno and
The scrip was 1.57 per cent up at Rs 7,383.85 at around 02.27 pm while the benchmark Sensex was flat at 36,196
It opened at Rs 7,260 on the BSE against its previous closing of Rs 7296.95
the nutritional needs of our consumers," said HUL chairman Sanjiv Mehta adding that the merger will create significant shareholder value
through both revenue growth and cost synergies
"The turnover of our food and refreshment business will exceed Rs10000 crore and we will become one of the largest FR businesses in the
country."
On the deal specifics, GSK said it intended to sell holding in HUL, post completion of the deal.
