Hindustan Unilever Ltd.

FMCG major, Hindustan Unilever has constituted a committee of independent directors to provide reasoned recommendation to the shareholders on the $5.4 billion voluntary open offer by its parent, Unilever Plc.  The committee would consist of all the five independent directors of the company--Aditya Narayan, S Ramadorai, R A Mashelkar, O P Bhatt and Sanjiv Misra.

Anglo-Dutch consumer goods giant Unilever Plc will pay as much as $5.4 billion to raise its stake in its Indian unit, Hindustan Unilever (HUL). The parent company would acquire up to 487 million shares or 22.52% of the equity, of HUL in an open offer for Rs 600 a share.  The deal on completion would be the largest Asia Pacific cross border inbound merger and acquisition (M&A) deal so far this year and is the fifth largest India Inbound M&A transaction on record till date.