Unilever, which has been accused by some investors of the group’s slump in stock prices, confirmed its approach to potential acquisitions in a statement on Saturday.
“GSK Consumer Healthcare is an attractive consumer health leader and will be a strong strategic fit as Unilever continues to restructure its portfolio.”
“I’m not sure if an agreement will be reached.”
GSK declined to comment on this approach.
Earlier, The Sunday Times in the United Kingdom said Unilever’s bid for a business at the end of last year was worth about £ 50 billion and was rejected by division’s minority shareholders GSK and Pfizer as being too low.
He added that Unilever, which owns brands such as Dove Thorpe and Marmite, understood that Glaxo’s approach to the portfolio of household brands such as Panador painkillers and Sensodyne toothpaste was one-sided.
Unilever’s bid did not include recognition of acquisition premiums or synergies, the newspaper said, adding that it is not clear whether the group will offer higher offers.
Unilever is under pressure from investors after falling short of rivals such as Procter & Gamble.
CEO Alan Jope recently argued with British fund manager Terry Smith. Terry Smith criticized the group for promoting sustainability credibility at the expense of performance.
Last year, securities firm Jeffreys set the valuation of the entire consumer unit at £ 45 billion.
Deutsche Bank analysts said in June 2021 that the bid to buy GSK’s consumer assets worth over £ 45 billion was “stunning.”
Unilever has previously discontinued the proposal that it was in a large trading market. Jope says he is only interested in small-scale Bolt-on acquisitions in fast-growing areas such as luxury beauty, health and wellness.
gsk: Unilever looks at GSK’s consumer goods sector for a £ 50bn trading potential
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