GSK has offered Rs. 3,900 per share, a premium of 28% to Friday’s closing price.
“GSK Consumer Healthcare is a well established business in India and its leading product, Horlicks, is an iconic household brand,” said David Redfern, chief strategy officer, GSK. “This transaction is a further step in GSK’s strategy to invest in the world’s fastest growing markets.”
Shareholders are also happy. “The news is positive for shareholders as it’s already helped them fetch a premium of about 30%,” said industry analyst V Srinivasan of Angel Broking.
GSKConsumer Healthcare stocks closed 608 points up to 3,652 on the BSE on Monday.