Deals
Glaxo Rejects $68 Billion Unilever Bid for Consumer Business
- Unilever confirmed the approach, saying unit is a strong fit
- Rebuffed bid said to value Glaxo consumer unit at $68 billion
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GlaxoSmithKline Plc said it rejected an offer from Unilever Plc for the drugmaker’s consumer healthcare unit last year that valued the business at about 50 billion pounds ($68 billion).
Glaxo in a statement Saturday said that it had received three unsolicited offers from Unilever for its consumer healthcare business, the final one on Dec. 20 for 41.7 billion pounds in cash and 8.3 billion pounds in Unilever shares.