HUL to merge with GSK Consumer and buy Horlicks in Â£3.1 bn deal
Hindustan Unilever Limited (HUL) on Monday agreed to take over GlaxoSmithKline (GSK) Consumer Healthcare, the maker of malted-milk drink Horlicks, in a Â£3.1 billion all-stock deal, India's biggest consumer goods deal. Following the merger, GSK will own approximately 5.7% of HUL. The transaction values the total business of GSK Consumer Healthcare at â¹31,700 crore.