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Unilever shares gain after opting not to lift bid for GSK assets -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: This illustration of the Unilever logo on Dove soap boxes was taken January 17, 2022. REUTERS/Dado Ruvic/Illustration

(Reuters) – Unilever shares rose roughly 2% on Thursday, following the announcement late Wednesday that it will not increase its 50 billion pound offer ($68 billion), for GlaxoSmithKline’s consumer healthcare company.

GSK shares fell 1.5% following Unilever’s effective cessation of its pursuit for a business the pharmaceutical company intends to spin-off later in the year.

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