Company news: Hindustan Unilever

The Competition Commission of India has accorded its approval to the amalgamation of GlaxoSmithKline Consumer Healthcare with Hindustan Unilever. In December 2018, both the companies had announced the merger deal. As part of this deal, health drinks including Boost, Horlicks and Maltova — the mainstays of GSK Consumer — will move to HUL. The transaction is an all-equity merger with 4.39 shares of HUL being allotted for every share in GSK CH India. The deal values the total business at ₹31,700 crore. Shares of GSK CH closed 0.47 per cent higher at ₹7,285.10 while those of Hindustan Unilever slipped 0.33 per cent at ₹1,753 on the BSE.