Hindustan Unilever Ltd. (HUL) said the UK-based Unilever PLC. Along with the Netherlands-based Unilever N.V., through HSBC Securities and Capital Markets, made a voluntary open offer to acquire 486,004,772 equity shares of Rs.10 each of 22.52 percent voting rights of HUL from the public shareholders at a price of Rs.600 apiece payable by cash.
Unilever PLC and Unilever N.V. are the two parent companies of the Unilever Group of companies. Unilever PLC was incorporated under the name Lever Brother Ltd. in England and Wales in 1894, while Unilever N.V. Was incorporated under the name Naamlooze Vennootschap margarine Unie In The Netherlands in 1927. Together with their group companies, Unilever PLC and Unilever N.V. Operate as nearly as practicable as a single economic entity.
At the BSE, Hindustan Unilever shares are currently trading at Rs.577.45, up 16.05 percent from the previous close.
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