Minority shareholders of Grasim clear ABNL merger

8th April, 2017

The Economic Times
08 April 2017

New Delhi: Minority shareholders of Grasim Industries have approved its mega merger with Aditya Birla Nuvo (ABNL) to create a nearly Rs.60,000-crore diversified company. Over 93% of the minority shareholders of Grasim voted in favour of the plan to merge with affiliate ABNL, Grasim Industries informed BSE. ABNL investors are scheduled to vote on the deal by April 9. According to the filing, 80% of 16.2 crore shares held by public institution cast their ballot, with 14.96 crore, or 92% casting their vote in favour of the merger.