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Unilever to make open offer to acquire 22.5% additional shares in HUL

 Unilever to make open offer to acquire 22.5% shares in HUL
Hindustan Unilever: Quotes, News
BSE 1705.50BSE Quote19.3 (-1.13%)
NSE 1704.90NSE Quote15.5 (-0.91%)
In what came as pleasant surprise to the markets, Unilever PLC along with Unilever NV announced that they are making an open offer to acquire an additional 22.5 per cent shares in Hindustan Unilever, thus hiking their stake in the company. The two Unilever group companies will make an open offer to at a price of Rs 600 per share to the existing shareholders of the company.

The news saw the shares of Hindustan Lever surge in trade. The stock jumped 10 per cent and was trading at Rs 550 per share, which is again at a discount to the offer price made by the parent company. Analysts believe the stock price could now align closer to the open offer price of Rs 600 and provides an excellent opportunity for investors to offer their share given that the valuations of HUL already look stretched. Unilever PLC and Unilever N.V. are the two parent companies of the Unilever Group of companies. Hindustan Unilever is a market leader in the fast moving consumer goods business in India, with brands spanning categories such as soaps, detergents, shampoos, skin care, toothpastes, deodorants, cosmetics, tea, coffee, packaged foods, ice cream, and water purifiers.

Its portfolio includes the following brands: Lux, Lifebuoy, Surf Excel, Rin, Wheel, Fair & Lovely, Pond's, Vaseline, Lakmé, Dove, Clinic Plus, Sunsilk, Pepsodent, Closeup, Axe, Brooke Bond, Bru, Knorr, Kissan, Kwality Wall's and Pureit.

Read more about: hul unilever
Story first published: Tuesday, April 30, 2013, 10:11 [IST]
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