Business & Investment

Unilever is looking at GSK’s consumer goods sector for a $ 68 billion transaction potential

Major consumer goods After the newspaper reported that the £ 50bn bid was rejected, he said he had approached GlaxoSmithKline for a purchase in the consumer goods sector of the pharmaceutical group.

Unilever, which has been accused by some investors of the group’s slump in stock prices, confirmed its approach to potential acquisitions in a statement on Saturday.

“”Consumer Healthcare is a leader in attractive consumer health spaces We continue to rebuild our portfolio. “

“I’m not sure if an agreement will be reached.”

Refused to comment on the approach.

Previously, The Sunday Times in the UK The bid for the business at the end of last year was worth about £ 50 billion. Pfizer owns a minority stake in the division.

He added that Unilever, which owns brands such as dub soap and marmite, understood that Glaxo’s approach to the portfolio of household brands such as Panador painkillers and Sensodyne toothpaste was one-sided.

Unilever’s bid did not include recognition of acquisition premiums or synergies, the newspaper said, adding that it is not clear whether the group will offer higher offers.

Unilever is under pressure from investors after falling short of rivals such as Procter & Gamble.

CEO Alan Jope recently argued with British fund manager Terry Smith. Terry Smith criticized the group for promoting sustainability credibility at the expense of performance.

Last year, securities firm Jeffreys set the valuation of the entire consumer unit at £ 45 billion.

Deutsche Bank analysts said in June 2021 that the bid to buy GSK’s consumer assets worth over £ 45 billion was “stunning.”

Unilever has previously discontinued the proposal that it was in a large trading market. Jope says he is only interested in small-scale Bolt-on acquisitions in fast-growing areas such as luxury beauty, health and wellness.

($ 1 = 0.7314 pounds)

(This story has not been edited by Business Standard staff and is automatically generated from the Syndicate Feed.)

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Unilever is looking at GSK’s consumer goods sector for a $ 68 billion transaction potential

https://www.business-standard.com/article/international/unilever-eyes-gsk-s-consumer-goods-arm-in-possible-68-bn-deal-122011500798_1.html Unilever is looking at GSK’s consumer goods sector for a $ 68 billion transaction potential

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