Pidilite Industries to acquire Blue Coat’s adhesive business

Mumbai: Consumer and speciality chemicals maker Pidilite Industries Ltd's board of directors has approved the acquisition of adhesive business of Blue Coat Pvt. Ltd on a so-called slump sale basis for a cash consideration of Rs.263.57 crore, the firm said in a filing to BSE on Monday.

Blue Coat is a manufacturer of industrial adhesives and textile printing chemicals.

Slump sale means the transfer of one or more undertakings as a result of the sale for a lump sum consideration without values being assigned to the individual assets and liabilities.

Pidilite Industries fell 0.11% to close at Rs.393.50 per share on Monday on the BSE, while the benchmark Sensex gained 0.43% to close at 27,206.74 points.

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