London GlaxoSmithKline has rejected the multi-billion bid by the British-Dutch group Unilever for its consumer goods division. The £50 billion (€60 billion) offer fundamentally undervalues the division and its future prospects, GlaxoSmithkline said in a statement on Saturday.
The pharmaceutical company also said it had received three offers from Unilever, most recently one on December 20. This included £41.7 billion (EUR 50 billion) in cash and £8.3 billion (EUR 10 billion) in Unilever shares.
The consumer goods group Unilever, known for brands such as Langnese, Knorr or Pfanni, wants to grow in the health sector. The British company confirmed on Saturday that it had approached GSK and American minority shareholder Pfizer about a potential takeover.
“GSK Consumer Healthcare is a leader in the attractive area of consumer healthcare and would be a good strategic fit with Unilever as it continues to transform its portfolio,” Unilever said. However, it is uncertain whether some The Sunday Times newspaper previously reported on the offer.
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GSK CEO Emma Walmsley plans to take her company’s consumer division public. The Bloomberg news agency reported in the fall that financial investors were interested in this. The group, based near London, offers medicines and vaccines. The Consumer Healthcare division includes Voltaren pain ointment, Sensodyne toothpaste and Otriven nasal spray.
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