Unilever to continue acquisition move on GlaxoSmithKline health arm despite rejection
Leading Fast Moving Consumer Goods (FMCG) Company, Unilever, has expressed determination to continue to pursue a deal to acquire the health arm of GlaxoSmithKline, a multinational pharmaceutical company.
The consumer giant’s offer valued at £50bn was rejected by GlaxoSmithKline but the company is still resolute to see the acquisition bid scale through noting that the deal is a strong strategic fit for the company.
GlaxoSmithKline said it received and rejected three unsolicited proposals from Unilever to acquire the GSK Consumer Healthcare business, including a late 2021 approach that valued the unit at 50 billion pounds ($68.4 billion).
According to Unilever, 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 in terms of synergies in the oral care and vitamin supplements business.
GSK’s health products business owns brands such as Sensodyne toothpaste, Panadol and Centrum vitamins while Unilever brands include Marmite, PG Tips and Dove soap.
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