Unilever's $5.4bn open offer for HUL to begin on June 21

Hindustan Unilever said that the USD 5.4 billion-open offer by its parent Anglo-Dutch firm Unilever Plc to buy 22.52 per cent stake in the company would begin on June 21.

Post completion, the open offer would be one of the biggest deals and fifth largest India Inbound M&A transaction on record till date.

Unilever will pay Rs 600 a share, valuing the open offer at USD 5.4 billion.

Unilever Plc is looking to hike stake in its Indian arm Hindustan Unilever Ltd (HUL) to 75 per cent through the open offer. Currently, it has a stake of 52.48 per cent.

In a regulatory filing, HUL said that the open offer would begin on June 21 and close on July 4.

Read more about: hindustan unilever
Story first published: Thursday, May 9, 2013, 10:30 [IST]
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