<p>Hindustan Unilever on Wednesday said that a $5.4-billion open offer by its parent firm Unilever Plc to buy 22.52 per cent stake in the company would begin on June 21. <br />Once complete, the open offer would be one of the biggest deals and fifth largest India Inbound M&A transaction on record till date. <br /><br /></p>.<p>Anglo-Dutch consumer goods giant 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. <br /><br />Unilever will pay Rs 600 a share, valuing the open offer at $ 5.4 billion. The open offer would begin on June 21 and close on July 4, HUL said in a regulatory filing. <br /><br />Last week, HUL's board had constituted a committee of independent directors to provide recommendation to the shareholders about the open offer. <br /><br />The committee would consist of all the five independent directors of the company — Aditya Narayan, S Ramadorai, R A Mashelkar, O P Bhatt and Sanjiv Misra. <br /><br />HUL's portfolio includes leading brands such as Lux, Lifebuoy, Surf Excel, Rin, Wheel, Sunsilk, Pepsodent, Closeup, Axe, Brooke Bond, Bru, Knorr, Kissan, Kwality Wall's and Pureit. <br />The company, which employs over16,000 employees, posted net sales of Rs 26,317.15 crore for the 2012-13 fiscal. <br /><br />Shares of HUL closed at Rs 586.70 on Wednesday on BSE, up 1.23 per cent from its previous close.</p>
<p>Hindustan Unilever on Wednesday said that a $5.4-billion open offer by its parent firm Unilever Plc to buy 22.52 per cent stake in the company would begin on June 21. <br />Once complete, the open offer would be one of the biggest deals and fifth largest India Inbound M&A transaction on record till date. <br /><br /></p>.<p>Anglo-Dutch consumer goods giant 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. <br /><br />Unilever will pay Rs 600 a share, valuing the open offer at $ 5.4 billion. The open offer would begin on June 21 and close on July 4, HUL said in a regulatory filing. <br /><br />Last week, HUL's board had constituted a committee of independent directors to provide recommendation to the shareholders about the open offer. <br /><br />The committee would consist of all the five independent directors of the company — Aditya Narayan, S Ramadorai, R A Mashelkar, O P Bhatt and Sanjiv Misra. <br /><br />HUL's portfolio includes leading brands such as Lux, Lifebuoy, Surf Excel, Rin, Wheel, Sunsilk, Pepsodent, Closeup, Axe, Brooke Bond, Bru, Knorr, Kissan, Kwality Wall's and Pureit. <br />The company, which employs over16,000 employees, posted net sales of Rs 26,317.15 crore for the 2012-13 fiscal. <br /><br />Shares of HUL closed at Rs 586.70 on Wednesday on BSE, up 1.23 per cent from its previous close.</p>