Unilever to revamp its structure later this month

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Company plans to sell off slow-growth brands as it weighs making a higher offer for GlaxoSmithKline’s consumer unit

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Unilever is promising to revamp its structure and plans to sell off slow-growth brands as it weighs making a higher offer for GlaxoSmithKline’s consumer unit. Picture: BLOOMBERG

Unilever has held talks with banks about additional financing for a potential sweetened offer for the Glaxo unit, according to people familiar with the matter. Glaxo’s board is open to proposals but the latest bid late last year was not within a range the company would consider, the people said. The pharma giant talked up growth prospects for the unit, formed through a combination of its consumer labels with those of Pfizer , which retains a minority stake.

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