GSK Rejects £50bn Bid For Consumer Healthcare From Unilever
GSK says London-based Unilever's £50bn bid for Consumer Healthcare fundamentally undervalues a business which generated sales close to £10bn last year and is expected to grow 4-6% over the medium term. The rejection has not dissuaded Unilever, however, with the company intent on stepping up its presence in the health, beauty and hygiene categories.
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Response to sale of Unilever’s direct selling business in Thailand, Unilever Life, like its recent failed bid for GSK consumer and its elimination of 1,500 management staff, exposes disconnect between its priorities and its shareholders preferences.
Recent market interest shown in other OTC assets will not distract Sanofi from its long-term plan to overhaul its Consumer Healthcare business, says CEO Paul Hudson. And this plan is delivering results, with Sanofi back on par with the consumer health market, posting sales up by 5% in 2021.