Anglo-Dutch consumer goods giant Unilever Plc (UL, ULVR.L, UN) reported that the voluntary open offer to increase its stake in Hindustan Unilever Ltd. or "HUL" from 52.48% to up to 75% would begin on June 21, 2013, and end on July 4, 2013.
The company said there has been no revision to the open offer price of six hundred Indian Rupees per share announced earlier and, as published by HUL on June 19, 2013, HUL's independent committee of Directors has urged that the open offer is fair and reasonable.
Subject to the final dividend approval of six Indian Rupees per share recommended by HUL's board for the year to March 31, 2013 at HUL's annual general meeting on July 26, 2013, shareholders of HUL who tender their shares in the open offer would be entitled to receive the final dividend from HUL in respect of the shares tendered by them. The open offer is being managed by HSBC Securities and Capital Markets (India) Private Ltd.
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