GSK shareholders approve proposed merger with FMCG giant HUL

The health food drinks leader in the market on Sunday announced that its shareholders had approved the merger that was proposed with the FMCG giant Hindustan Unilever Limited.

Hindustan Unilever and Glaxo Smith Kline merger

Hindustan Unilever and Glaxo Smith Kline merger

In the National Company Law Tribunal-convened meeting on the 1st of June, 2019, the company received a whopping 99.99% votes in favour of the merger.

Earlier in December, the giant Unilever had announced its foray into health food drinks, and the acquisition of Horlicks and Boost from GSK in India and other markets for 3.1 billion pounds.

Under the deal, Hindustan Unilever Limited, the Indian wing of the Anglo-dutch Unilever is all set to acquire Glaxo Smith Kline, valuing the company at 31,700 crore.

GSK consumers said “The proposed resolution approving the Scheme was passed by the requisite majority of the equity shareholders of the Company.”

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