Hindustan Zinc Ltd's proposal to purchase Vedanta's global zinc business for $2.98 billion faces strong resistance from the government, making it highly unlikely that the deal will go ahead. People familiar with the matter have reported that the company has no intention of acting on it. Hindustan Zinc Limited (HZL) is yet to present any non-cash deal to the Government for its current proposal. According to reports, their next board meeting will occur on April 21 in light of the proposal's expiration date. There still needs to be more information about what the company plans to put forth as an alternative. As of now, it's a waiting game to see what HZL decides to offer up.
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