HUL continues gaining streak, hits new high; advances 24% in two weeks

HUL has fixed April 17, 2020 as the record date for determining the shareholders of the GSK Consumer Healthcare to receive the shares of the company.

Shares of Hindustan Unilever (HUL) hit a new high of Rs 2,330, up 8 per cent on the BSE on Tuesday.

Last week, HUL announced the completion of GSK Consumer Healthcare (GSKCH) merger process, post securing necessary regulatory approvals. HUL has fixed April 17, 2020 as the record date for determining the shareholders of the GSKCH to receive the shares of the company. The merger of GSKCH with HUL will be on a basis of an exchange ratio of 4.39 HUL shares for each GSKCH share. HUL’s shares will be allotted to all GSKCH shareholders from end of April