Unilever says GSK is 'strong fit' after rejected bid

Monday, 17. January 2022 11:49

Unilever PLC stated on Monday that GlaxoSmithKline "would be a strong strategic fit" after GSK rejected Unilever's bid for its Consumer Healthcare business worth £50 billion. GSK argued on Saturday the offer "fundamentally undervalued" the firm and its future prospects.

However, Unilever signaled it will continue negotiating a deal, claiming that "the acquisition would create scale and a growth platform for the combined portfolio in the US, China, and India, with further opportunities in other emerging markets." It added it believes "this would be an attractive and synergistic combination for the shareholders of Unilever, which would also deliver value and certainty for the shareholders of GSK and Pfizer." GSK holds a majority controlling interest in the healthcare arm of 68%, while Pfizer owns 32%.

Related Links: Pfizer Inc.Unilever plcGlaxoSmithKline PLC
Author:
Baha Breaking News (BBN) / DJ