In December 2018, Unilever said it would acquire the health food drinks brands of Glaxo in India and Bangladesh and other markets for €3.3 billion ($3.6 billion) in cash and shares in HUL. As part of the transaction, Glaxo received a 5.7% stake in the Indian unit. Shares of HUL extended losses to 2.5% Wednesday after the Bloomberg News report.
The Nifty index rose 1.8% above Tuesday’s close.
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