News digest: HUL-GSK Consumer deal, corporate tax, IL&FS crisis, and more

Listed companies are becoming less important for the I-T department with each passing year

HUL, GSK ink Rs 317-bn merger in India's biggest consumer goods deal

Unilever (HUL) on Monday said it was merging GlaxoSmithKline (GSK) Consumer Healthcare with itself in a transaction worth Rs 317 billion, in the largest deal of the consumer goods space in the country.

The development came as parent Unilever announced it was acquiring Horlicks and other health food drinks from GSK in over 20 markets for £3.1 billion, bringing to an end a high-profile deal that had seen a cross-spectrum of players, including Nestlé, Coca-Cola, and ITC throwing their hats in the ring.

The transaction has three parts, including GSK picking