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

by Mike Robinson

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© Reuters. FILE PHOTO Unilever Headquarters in Rotterdam (Netherlands), August 21, 2018. REUTERS/Piroschka van de Wouw/File Photo

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(Reuters] -Unilever (NYSE 🙂 announced Monday it was looking to acquire GlaxoSmithKline (NYSE :)’s consumer healthcare business. It called it a “strong strategic match” following its rejection of the 50-billion-pound proposal ($68.4 trillion).

GSK announced over the weekend it rejected Unilever’s offer for the company’s consumer healthcare business. This is where brands such as Sensodyne toothpaste, Emergen C vitamin supplement and Sensodyne toothpaste are located.

Unilever stated that the acquisition “would create scale and provide a growth platform in the U.S. and China, as well as further opportunities in emerging markets” and pointed to the synergies with the vitamin supplement and oral care business.

Bloomberg News reports that Unilever met with banks to discuss additional financing in order to offer GSK’s consumer product division a sweetened deal.

Unilever will announce a new initiative to grow its business later in the month.

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