Unilever, which has been beneath fireplace from some buyers for the group’s underperforming share value, confirmed the method a couple of potential acquisition of the enterprise in a press release on Saturday.
“GSK Shopper Healthcare is a frontrunner within the engaging shopper well being area and can be a powerful strategic match as Unilever continues to re-shape its portfolio,” it stated.
“There might be no certainty that any settlement might be reached.”
GSK declined to touch upon the method.
Earlier, Britain’s Sunday Occasions stated the Unilever bid for the enterprise made late final 12 months was value roughly 50 billion kilos, and had been rejected as too low by GSK and Pfizer, which owns a minority stake within the division.
The method by Unilever, which owns manufacturers comparable to Dove cleaning soap and Marmite, for Glaxo’s portfolio of family manufacturers together with Panadol painkillers and Sensodyne toothpaste was understood to have been unsolicited, it added.
Unilever’s bid didn’t embrace any takeover premium or recognition of synergies, the newspaper stated, including that it was not clear whether or not the group would make a better supply.
Unilever has come beneath stress from buyers after underperforming rivals comparable to Procter & Gamble.
Chief Government Alan Jope just lately acquired right into a spat with British fund supervisor Terry Smith, who criticised the group for selling sustainability credentials on the expense of efficiency.
Brokerage Jefferies final 12 months put a valuation for the entire shopper unit at 45 billion kilos.
Deutsche Financial institution analysts stated in June 2021 that any takeover bid for GSK’s shopper belongings value greater than 45 billion kilos can be “eye-watering”.
Unilever has beforehand shot down strategies that it was out there for large offers. Jope has stated he was solely occupied with small, bolt-on acquisitions in fast-growing areas comparable to luxurious health and beauty and wellness.
