The board of HUL, India's largest consumer goods company, will meet on July 29 to consider the proposal.
This will be over and above a Rs 3,655-crore domestic rights issue and a Rs 4,350 crore convertible preference share issue the company announced last month.
During the quarter, exceptional items stood at Rs 1,899.64 crore, which includes an actuarial gain of Rs 1,850.25 crore on funds for employee benefits. Total income zoomed 425 per cent to Rs 32,535.15 crore from Rs 6,192.95 crore. Total expenditure, however, jumped 551 per cent to Rs 28,803.59 crore as well.
Tata Steel said on Tuesday its Board will meet on April 17 to discuss plans for funding the $12 billion acquisition of Anglo-Dutch firm Corus Group Plc.
The High Court in Britain has approved the $12 billion take over of Anglo- Dutch steel maker Corus Group by the Indian Steel giant Tata Steel. The deal is expected to be completed by early next week.
Fresh with its takeover of Anglo-Dutch giant Corus, Tata Steel has now started talks with world's second-largest steel maker Nippon of Japan for jointly producing the alloy for automakers and other companies.
What a terrific start to the new year! Tata Steel has won a mind-blowing $13.65 billion bid for Anglo-Dutch steel-maker Corus.
If 2006 was the year when companies in China and India hinted at their potential to redraw the global landscape for mergers and acquisitions, this has been the year when they started to deliver on their promise.
Question: what do Tata, Twenty20 and 20,000 have in common? Answer: mention any of the three Ts in the company of an Indian and be prepared for an animated conversation.
Corus Group chairman Jim Leng will receive an addition payment of pound 750,000 (Rs 6.41 crore) for turning around the Anglo-Dutch steel maker in the past two years.
"Tata Steel now anticipates that the effective date of the scheme of arrangement will be around the end of March or the first week of April 2007," it added.
Brazilian steel maker CSN might have lost the bidding war for Corus to India's Tata Steel but it still stands to gain over $520 million on the virtue of its failure only.
India Inc on Wednesday welcomed Tata Steel's acquisition of Anglo-Dutch steel maker Corus while expressing concern that the deal might re-rate the entire steel industry, making steel companies over-valued.
Sources close to the development said CSN's attempt to take over Corus might be hurt by Brazilian miner Companhia Vale do Rio Doce's plan to challenge CSN's capacity to supply iron ore to Corus.
The UK Takeover Panel has initiated discussions with the two suitors for Anglo-Dutch steelmaker Corus Group -- Tata Steel and CSN of Brazil -- to lay down the process for selecting the winner.
Media persons mobbed Ratan Tata for comments on the controversy over the small-car project in West Bengal and also on the race to acquire Anglo-Dutch steel giant Corus.
The rising heat in the race between Tata Steel and Brazil's CSN to acquire Anglo-Dutch steelmaker Corus
Close on the heels of the Tatas revising their bid for Corus to $9.2 billion by offering a price of 500 pence per share, the Brazilian steel firm CSN offered 515 pence a share for acquiring Corus.
Pension trustees of Corus Group have hired Penfida Partners to weigh the proposals placed by Tata Steel and CSN to acquire the Anglo-Dutch steelmaker.
The bank has agreed to provide up to $1 billion to Tata Steel's special purpose vehicle, Tata Steel UK, to refinance $7.2 billion of bridge loans taken for the biggest buyout by an Indian company.
The battle for Corus is expected to take a decisive shift this week, with the pension trustees of the Anglo-Dutch steel company expected to meet the representatives of Brazil's CSN to understand its commitment to the workers' pension.
Bankers and brokers allied to Brazil's Companhia Siderurgica Nacional scaling up their combined stake in the company to over 19 per cent.
Brazilian steel firm Companhia Siderurgica Nacional wants to make a rival bid for Corus before the Anglo-Dutch group's shareholders meet on December 4 to consider an offer from India's Tata Steel, a report said.
Corus Group Plc on Friday said it will list 46.8 million additional equity shares for trading on the London Stock Exchange.
Tata Steel is bracing to deliver what investment bankers say will be a knockout punch to its competitor, Brazil's Companhia Siderurgica Nacional
Brazilian steel major makes counter-bid at 4.75 a share.
Anglo-Dutch steelmaker Corus has accepted a $7.7 billion takeover bid from Tata Steel, the largest Indian takeover of a foreign company.
Since Ratan Tata , the patriarch of India's Tata Group, decided to splash out $13.1bn early in 2007 on Anglo-Dutch Corus, he has spent a lot of time with smooth-talking Frenchman Philippe Varin , who has run Corus for five and a half years.
The rosy picture of India Inc's acquisition spree both at home and abroad could dissolve into a nightmare if employee related issues post-M&As are not taken care of strategically.
Tata Steel on Tuesday said it will sell equity shares worth $2.3 billion in domestic and overseas markets, besides $6.1 billion in debt to fund acquisition of Anglo-Dutch firm Corus Group Plc.
Sources close to the situation said the Tata Steel board is slated to discuss the issue at its meeting on April 17.
Meet Arunkumar Ramanlal Gandhi. The head of the M&A activities in the Tata Group, who called up Tata to convey Tata Steel's victory.
Tata Steel will shell out $4.1 billion out of the total consideration of $12.15 billion for the acquisition of Anglo-Dutch steelmaker Corus.
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