HUL surges to record high; Unilever raises stake
Hindustan Unilver's shares gained on Friday after Unilever, its parent company, acquired over two-thirds of the Indian unit.
July 05, 2013 / 21:39 IST
Shares in Hindustan Unilever gained as much as 5.1 percent to a record high on Friday after Unilever said it had acquired a little over two-thirds of the Indian unit following the close of a voluntary tender offer.
Also Read: Deepak Fertilizers up 4% on stake buy in Mangalore ChemicalHindustan Unilever shareholders tendered 319.7 million shares to the offer, taking Unilever's holding in the unit to 67.28 percent from 52.48 percent, Unilever said in a statement on Thursday.Hindustan Unilever shares were up 3.7 percent at 9:24 a.m. after earlier hitting an all-time high of Rs 632. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
