Unilever offered 50 billion pounds for GSK unit – report By Reuters


© Reuters. FILE PHOTO: General view outside GlaxoSmithKline (GSK) headquarters in Brentford, London, Britain, May 4, 2020. REUTERS/Matthew Childs

LONDON (Reuters) -Consumer goods giant Unilever (NYSE:) made a bid towards the end of last year for pharmaceutical group Glaxosmithkline (LON:)’s consumer goods business worth roughly 50 billion pounds ($68.4 billion), Britain’s Sunday Times reported.

GSK and Pfizer (NYSE:), which owns a minority stake in the division, were understood to have rejected the offer on the basis that it was too low, the newspaper said.

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

Unilever’s bid did not include any takeover premium or recognition of synergies, the newspaper said.

It was not clear whether Unilever would make a higher offer and talks were not thought to be live, it said.

Reuters has sought comment from the companies.

($1 = 0.7314 pounds)

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Leave a Reply

Your email address will not be published. Required fields are marked *