Sunday, October 17

GSK’s consumer arm gets private equity interest for buyout-Bloomberg News

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GlaxoSmithKline’s consumer healthcare unit is drawing buyout interest from private equity firms such as Advent, CVC and KKR, ahead of the drugmaker’s planned separation from the unit next year, Bloomberg News reported, citing sources.

The unit, a venture with Pfizer, could also attract some of the world’s biggest pharmaceutical and consumer goods companies, the report said -billion-consumer-arm-is-said-to-draw-buyout-interest on Tuesday, adding the business could be valued at 40 billion pounds ($54 billion) or more.

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A GSK spokesman declined to comment when asked whether the company had received takeover interest in the consumer healthcare business.

The London-listed company in June set out plans to turn the consumer arm into a separately listed company to boost its underperforming drugs business, and has also vehemently defended those plans after activist investor Elliott raised concerns business/healthcare-pharmaceuticals/activist-investor-elliotts-five-proposals-gsk-2021-07-01. (Reporting by Pushkala Aripaka in Bengaluru and Ludwig Burger in Frankfurt; Editing by Shinjini Ganguli)

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