Advanta board meets for merger with UPL

The boards of Advanta and UPL will meet on Monday to consider a proposal to merge the former with the latter. As on September 30, a total of nine promoters held 59.5 per cent stake in Advanta, of which 46.5 per cent was held by UPL. The remaining was held by public shareholders. The company did not disclose any other details of the proposed merger. Analysts and traders will track the developments keenly, particularly the merger ratio.