GSK says London-based Unilever's £50bn bid for Consumer Healthcare fundamentally undervalues a business which generated sales close to £10bn last year and is expected to grow 4-6% over the medium term. The rejection has not dissuaded Unilever, however, with the company intent on stepping up its presence in the health, beauty and hygiene categories.
GlaxoSmithKline plc has rejected three unsolicited bids for its Consumer Healthcare unit from Unilever PLC on the grounds that the offers “fundamentally undervalued” the business.
Despite its latest bid of £50bn ($68bn) failing to tempt GSK, consumer goods multinational Unilever has not ruled out another...