Unilever says GSK consumer arm ‘strong strategic fit’ for business

Unilever says GSK consumer arm ‘strong strategic fit’ for business

2/2 © Reuters. FILE PHOTO: Unilever headquarters in Rotterdam, Netherlands August 21, 2018. REUTERS/Piroschka van de Wouw/File Photo 2/2

(Reuters) -Dove soap maker Unilever (NYSE:) signalled on Monday it would pursue a deal for GlaxoSmithKline (NYSE:)’s consumer health business, calling it a “strong strategic fit” after its 50-billion-pound approach ($68.4 billion) was rejected.

The update comes after GSK confirmed over the weekend that it had rejected the Unilever offer for its consumer healthcare business, which is home to brands such as Sensodyne toothpaste and Emergen-C vitamin supplement.

“The acquisition would create scale and a growth platform for the combined portfolio in the U.S., China and India, with further opportunities in other emerging markets,” Unilever said, pointing to synergies in the oral care and vitamin supplements business.

Unilever held talks with banks about additional financing for a potential sweetened offer for GSK’s consumer products division, Bloomberg News reported on Sunday, citing people familiar with the matter.

Unilever, which is set to announce an initiative later this month to strengthen its business, said on Monday it was committed to “strict financial discipline” for any acquisitions.

($1 = 0.7312 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.

Latest Category Posts