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- GlaxoSmithKline (NYSE:GSK) fell 1.8% on a report that Unilever (NYSE:UL) won't increase its bid for GSK's consumer unit above GBP50B. Unilever shares jumped 8.3%.
- Unilever said the recently given financial figures from GSK's consumer healthcare unit don't change the company's fundamental value, according to a Bloomberg report, which cited a Unilever (UL) statement.
- Unilever shares plunged 14% yesterday after the company confirmed its proposed acquisition of GSK's consumer unit. The business under consideration was formed in 2018 from the combination of the consumer assets of GSK and Pfizer (NYSE:PFE).
- Over the weekend, GlaxoSmithKline (GSK) confirmed it rejected three non-binding offers from Unilever (UL), including the latest valued at £50B ($68B).
- Also see, Unilever sees investor backlash over $68B bid for GlaxoSmithKline consumer unit.
- Yesterday, Unilever’s bid for consumer unit unlikely to generate upside for GlaxoSmithKline - BofA.