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GSK rejects $68b Unilever bid for consumer healthcare unit / CC BY-SA 2.0

LONDON (AP) — The pharmaceutical giant GlaxoSmithKline says it has rejected an unsolicited 50 billion-pound ($68.4 billion) bid from Unilever for its consumer healthcare goods unit. The unit is a joint venture in a partnership with Pfizer, which holds a minority interest. GSK said Saturday that it rejected three bids from Unilever last year – the latest in December — because they undervalued the unit. Both companies confirmed the  offer following a report in Britain’s Sunday Times. Unilever said there can be no certainty any agreement will be reached. GSK’s brands include the painkiller Advil and Sensodyne toothpaste. Unilever’s wide assortment of consumer products include the Hellmann’s Dove brands. 

Associated Press

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