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Exchanges will suspend the trading of GlaxoSmithKline Consumer Healthcare from April 16 (also ex-date) following its scheme of arrangement with Hindustan Unilever, according to a release by the exchanges.
Shareholders of GSK Consumer will receive 4.39 shares of Hindustan Unilever for every share held in the company
As per the deal, GSK Plc (parent) will own 5.7 per cent of the merged entity, but will have no representation on the board after the merger. Currently, 27.54 per cent stake of Glaxo Consumer is held by the public.
Shares of GSK Consumer on Wednesday closed a tad higher at ₹10,645.45 on BSE, while those of HUL gained 0.9 per cent at ₹2,466.40.
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