Current Affairs - Business - Discussion

FMCG major Hindustan Unilever Limited (HUL) announced that its board has approved the merger with GlaxoSmithKline Consumer Healthcare (GSKCH India) through an-all equity deal, valuing the total business of the latter at Rs31,700 crore. The transaction is an all-equity merger with 4.39 shares of HUL being allotted for every share in GSKCH India, which sells consumer healthcare products, including popular drink brand Horlicks. Post the acquisition, the turnover of the company's Foods and Refreshment (F&R) business will exceed Rs10,000 crore.