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Unilever Edges Out Nestle for Glaxo's India Consumer Unit

  • Anglo-Dutch company is said to offer $3 billion for 70% stake
  • Glaxo division includes Horlicks malted-milk drink brand
The Unilever Plc Ice Cream Facility Ahead Of Earnings Figure
Photographer: Luke Sharrett/Bloomberg
Updated on

Unilever has edged out Nestle SA in the contest for GlaxoSmithKline Plc’s $4 billion Indian consumer-health unit, according to people with knowledge of the matter.

The Anglo-Dutch maker of Ben & Jerry’s ice cream is in talks to buy the Glaxo business that owns the popular malted-milk brand Horlicks, the people said, declining to be identified as the deliberations are confidential. Nestle has dropped out, they said.