HLL, Pond's fix swap at 3:4
The boards of Hindustan Lever Ltd (HLL) and Pond's India Ltd on Monday announced a swap ratio of three shares of HLL for every four shares of Pond's India. The two boards approved the merger ratio and the draft scheme of amalgamation at separate meetings in Mumbai.
Alcan plans to invest Rs 1,000 cr in Indal
Indian Aluminium Company Ltd (Indal) said on Monday that Canadian associate Alcan Aluminium is committed to its Indian business. It plans to inject almost Rs 1,000 crore over the next two years by way of various plans and projects.
Raasi plans court battle to thwart ICL bid
The promoters of Raasi Cements are confident that the takeover bid made by India Cements would be thwarted in the near future without making a counter-offer. The falling scrip price of Raasi, they say, is an indication that investors have lost interest in the company even as they promise to take the takeover to the Supreme Court.
ADL foreign stake increases
Three foreign collaborators are hiking their collective stake in American Diamonds Ltd (ADL) to over 60 per cent from the existing 51 per cent. The foreign companies are Steelmet Pte Ltd of Singapore and Instile Stone Corporation and Atlantic Diamonds Inc, based in the US.
Suri ropes in Inter-Continental
UK-based Inter-Continental will be the new partner of Lalit Suri's Bharat Hotels. The five-star deluxe hotel is likely to be renamed New Delhi Inter-Continental from April 1.
EC to decide on anti-dumping levy
The European Commission (EC) will consider the position of the majority of European nations who have voted against imposing provisional anti-dumping duties on unbleached cotton from six developing countries including India, according to Patrick Laurent, EC deputy head, anti-dumping unit (Brussels).
