GSK rejects Unilever's £50 billion offer

It was stated that Unilever, the world's leading fast-moving consumer goods company, made an offer of 50 billion pounds ($68.4 billion) to buy the consumer unit of London-based GlaxoSmithKline (GSK), while GSK rejected the offer as too low. Unilever said: "GSK's Consumer Healthcare Division is highly attractive in healthcare products and strategically suited for Unilever's reshaping of its portfolio. However, there is no firm decision on reaching an agreement." GlaxoSmithKline, on the other hand, said in a statement today that it had made 3 offers to Unilever to buy the consumer health unit, the last one on December 20, and all three offers were rejected. The deal would be one of the largest in London. The British Sunday Times, which first announced the news, stated that Unilever made an offer of approximately 50 billion pounds last year, but this offer was rejected as too low by Pfizer and GSK, which own part of the company's shares. In 2018, Unilever bought its consumer nutrition business, which includes brands like Horlicks in India and other Asian markets, for £3.3 billion.