banner image banner image
 

GSK rejects all the three proposals bid from Unilever

GlaxoSmithKline (GSK) confirmed that it has received three unsolicited, conditional and non-binding proposals from Unilever to acquire the GSK Consumer Healthcare business. The latest proposal received on 20th December 2021 was for a total acquisition value of £50 billion comprising £41.7 billion in cash and £8.3 billion in Unilever shares. GSK rejected all of these proposals on the basis that they "fundamentally undervalued" the Consumer Healthcare business and its future prospects.

Unilever on Saturday confirmed that it has approached GSK and Pfizer about a potential acquisition of the business. "GSK Consumer Healthcare is a leader in the attractive consumer health space and would be a strong strategic fit as Unilever continues to re-shape its portfolio", stated further.

The Consumer Healthcare business is a Joint Venture between GSK and Pfizer, with GSK holding a majority controlling interest of 68% and Pfizer 32%. The Board of GSK is strongly focused on maximising value for GSK shareholders and has carefully evaluated each Unilever proposal. In doing so, the Board and its advisers assessed the proposals relative to the financial planning assessments completed to support the proposed demerger of the business in mid-2022, including the sales growth outlook set out below.

The Board of GSK therefore remains focused on executing its proposed demerger of the Consumer Healthcare business, to create a new independent global category-leading consumer company which, subject to approval from shareholders, is on track to be achieved in "mid-2022."

GSK intends to share further details of the strategy, brands, capabilities and operations, including detailed financial information and future growth ambitions for the new Consumer Healthcare business at a virtual Capital Markets Day for investors and analysts on Monday 28th February 2022.

Media
@adgully

News in the domain of Advertising, Marketing, Media and Business of Entertainment

More in Media