Hindustan Unilever Limited is an Indian consumer goods company, which is based out of Mumbai, Maharashtra and is a subordinate of Unilever, which is basically a British-Dutch company. HUL’s products basically include cleaning agents, food, beverages, personal care products, and water purifiers. HUL is actually known as the market leader in all the Indian Consumer products with its presence in over 20 consumer categories that include, detergent, soaps, tea, and shampoos, amongst the others with over 700 million Indian consumers who are using its products.
Talking about another renowned company, GlaxoSmithKline Plc (GSK) is a British pharmaceutical company, which is headquartered in Brentford, London. It was a merger of Glaxo Wellcome and SmithKline Beecham, wherein GSK was the world’s sixth largest pharmaceutical company as of 2015.
Now one of the most insider stories has come into the picture, which says that on Thursday, Hindustan Unilever Ltd, the Indian unit of Unilever Plc, said that it cannot disclose the details on whether it is planning to buy GlaxoSmithKline Plc’s Indian Horlicks nutrition business, citing discretion obligations. According to some sources, Unilever has now emerged as the leading bidder for Horlicks and other Indian consumer healthcare assets of GSK, in a constricted contest that also includes the European consumer giant, Nestle, said the Reuters.
The people who are close to this deal said, “The GSK business, which includes of the malt-based drinks like Horlicks and Boost, is likely to raise less than $4 billion”. Along with this, in one of the statements to the BSE stock exchange of Hindustan Unilever it said that with some references to this particular situation, they wish to state that they are bound by the confidentiality obligations at this point of time.