Unilever seeks GSK’s consumer goods arm in possible £50bn deal

Por Mrinmay Dey y Siddharth Cavale

Jan 15 (Reuters) – Consumer goods giant Unilever said it had approached Glaxosmithkline to buy the drug group’s consumer goods arm, after a newspaper reported a 50 billion pound ($68.4 billion) offer ) that he did had been rejected.

Unilever, which has come under fire from some investors for the group’s poor share price performance, confirmed the approach on a possible takeover of the business in a statement on Saturday.

“GSK Consumer Healthcare is a leader in the attractive consumer healthcare space and would be a strong strategic match as Unilever continues to reshape its portfolio,” he said. “There can be no certainty that any agreement will be reached.”

GSK declined to comment on the outreach.

Earlier, Britain’s Sunday Times said Unilever’s bid for the business made late last year was around £50bn and had been rejected as too low by GSK and Pfizer, which owns a minority stake. in the division.

The approach from Unilever, which owns brands such as Dove soap and Marmite, for Glaxo’s portfolio of household brands, including Panadol pain relievers and Sensodyne toothpaste, was understood to have been unsolicited, it added.

Unilever’s offer did not include any acquisition premium or recognition of synergies, the paper said, adding it was not clear whether the group would make a higher offer. The company has come under pressure from investors after underperforming rivals such as Procter & Gamble.

(1 dollar = 0.7314 pounds)

(Additional reporting by Ludwig Burger in Zurich, Writing by William Schomberg, Editing in Spanish by Manuel Farías)



Reference-www.infobae.com

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