to review Unilever's approach but it will not engage in talks unless Unilever bumps up its offer, sources familiar with the matter said.GSK's shares jumped 6% to their highest level since May 2020. It said on Saturday Unilever's proposal "fundamentally undervalued" the consumer business, adding that it would stick to its plan of listing the division this year.
The Marmite spread maker, however, defended the bid for the GSK consumer business, in which U.S. drugs company Pfizer"The acquisition would create scale and a growth platform for the combined portfolio in the U.S., China and India, with further opportunities in other emerging markets," Unilever said, pointing to synergies in the oral care and vitamin supplements business.
The source called the business a "legitimate standalone candidate", adding its market value could rise to almost $100 billion once the business was spun out and listed.
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Source: Reuters - 🏆 2. / 97 Read more »
Viewsroom: Credit Suisse chair, Unilever’s GSK bidAs António Horta-Osório quits the Swiss lender after less than a year, Liam Proud explains what happened and offers career advice. And Unilever’s 50 bln pound offer for the pharma giant’s consumer unit puts both CEOs on the spot, say Aimee Donnellan and Dasha Afanasieva.
Source: Reuters - 🏆 2. / 97 Read more »
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