Hindustan Unilever Ltd Announces Voluntary Open Offer From Unilever PLC And Unilever NV


Friday, 3 May 2013 07:55am EDT 

Hindustan Unilever Ltd announced that the Board of Directors at their meeting held on May 03, 2013 has taken note of the Voluntary Open Offer for acquisition of 22.52% of the Voting Share Capital of the Company, made by Unilever PLC along with Unilever NV in capacity as person acting in concert with the Acquirer. Further, in terms of the requirements of Regulation 26(6) the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 the Board of Directors has constituted the Independent Directors' Committee to provide reasoned recommendation to the shareholders on the Voluntary Open Offer from the Acquirer. The Committee shall consist of all Independent Directors of the Company, i.e. Mr. Aditya Narayan, Mr. S. Ramadorai, Dr. R. A. Mashelkar, Mr. O. P. Bhatt and Dr. Sanjiv Misra and Mr. Aditya Narayan shall act as the Chairman of the Committee.