Mumbai, Mar 17: The board of GlaxoSmithKline Pharmaceuticals Ltd and Burroughs Wellcome India Ltd today decided on 14:10 share ratio (every 14 GSK shares for 10 BWIL shares) following the decision to merge the latter with GlaxoSmithKline, subject to shareholders approval. The boards of both companies have approved merger proposal and the share ratio, Managing Director of the two pharmaceutical companies F S Kalyanasundaram told reporters after the board meetings here.
Both companies would now seek approval of shareholders and the Bombay High Court for the merger, he said. Bureau Report