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Unilever Launches Public Offer To Increase Stake In Hindustan Unilever

May 9, 2013: 12:00 AM EST
Unilever said its public offer to increase its stake in Hindustan Unilever, the company's subsidiary in India, will begin on June 21 and close on July 4, 2013. The company seeks to acquire 48.7 crore shares of HUL at 600 rupees a share, a 21 percent premium over the prevailing price of R497. Announced on April 30, the plan would see Unilever increase its stake from 52.48 percent to 75 percent. Shares of HUL have risen 18 percent to close at R586.70, which prompted market analysts to forecast that not many shareholders are likely to sell their shares due to the narrower premium, as well as due to tax considerations.
"Unilever's open offer for 48.7 cr HUL shares commences on June 21", The Financial Express, May 09, 2013, © The Indian Express Limited
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