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Hind Lever Chem, Tata Chemicals may merge

January 22, 2003 13:36 IST

Hind Lever Chemicals is considering merging with Tata Chemicals Ltd, the Bombay Stock Exchange said on Wednesday.

Both companies' boards will meet on January 24 to consider the merger proposal and the share swap ratio, it said.

Tata Chemicals belongs to the Tata group, India's second largest conglomerate by sales. Hind Lever Chemicals is an associate of Anglo-Dutch Unilever Plc's Indian unit, Hindustan Lever Ltd. No other details were immediately available.

Tata Chemicals' shares rose as much as nine per cent to a high of Rs 66.20 and Hind Lever Chemicals' shares rose as much as 10 per cent to a high of Rs 187, while the benchmark BSE index was up 0.15 per cent.

Source: REUTERS
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