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Shaw Wallace board okays merger with USL

KOLKATA: The board of Shaw Wallace and Company, at its meeting held on Thursday, approved the merger of the company with United Spirits (USL). The appointed date of the merger has been fixed at April 1, 2007 subject to approvals. In respect of the merger, USL will allot shares in the ratio of four fully paid up shares of Rs. 10 each of USL for every 17 shares of Rs. 10 each of SWC. — Special Correspondent

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