London Unilever is willing to pay big money for the company that makes products like Advil, Tums and Aquafresh toothpaste as it tries to revive its sluggish stock and ramp up its focus on health products.
GlaxoSmithKline said over the weekend that it had received three"unsolicited" proposals from Unilever to acquire its consumer healthcare business, which it runs as a joint venture with Pfizer . The latest had a price tag of £50 billion .GSK has rejected the offers, which it said were too low. It's planning to spin off the division later this year, under pressure from shareholders including hedge fund Elliott Investment Management.
Bye Bye Advil, Tums, and Aquafresh ... Hello rapid tests, vaccines and MonoclonalFresh toothpaste.
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