Profit

Unilever open offer good for shareholders, but won't tender in: Ramesh Damani

PUBLISHED ON: April 30, 2013 | Duration: 5 min, 47 sec

  
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Anglo-Dutch consumer goods giant Unilever Plc will pay as much as $5.4 billion (Rs. 29,248.06 crore) to raise its stake in its Indian unit, Hindustan Unilever, to up to 75 per cent in a bet on fast-growing spending power in Asia's third-largest economy. According to Ramesh Damani, member of BSE and NSE, the open offer is a positive move for shareholders. However, Mr Damani told NDTV, he would not prefer to tender his shares in the offer.
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