Saturday, September 30

Unilever confirms €60bn offer for GSK Consumer Healthcare

“The mass consumer health products segment would be very complementary to Unilever with good potential for synergies” and “GSK Consumer Healthcare would be a strong strategic acquisition,” it said in a statement.

On Saturday, GlaxoSmithKline (GSK) revealed that it had received three unsolicited offers from Unilever for GSK Consumer Healthcare, a joint venture between GSK and Pfizer in which the UK holds 68% and the US 32%.

The last offer was made on December 20 “for a total of 50,000 million pounds, of which 41,700 million are in cash and 8,300 million in Unilever shares,” he said.

GSK has rejected all three offers on the grounds that they undervalue the stock.

Unilever explained in its statement that it seeks to “accelerate the growth of the business and the repositioning of its (product) portfolio towards high-growth categories.”

And he considered that “large acquisitions should be accompanied by accelerated divestments of brands and businesses with lower growth.”

In November, the group, whose wide range of products includes everything from Magnum ice cream to Cif cleanser to Dove soap, announced a 4.5 billion euro ($5.14 billion) deal with fund CVC Capital Partners to sell its tea division. , which comprises 34 brands, including Lipton, Tazo and Pukka.