Today’s Proactive Investors website reports on Unilever’s £50bn bid for GlaxoSmithKline’s consumer healthcare business. Unilever reportedly made three unsolicited approaches for the business.
The offer fails to include a significant premium, often required to convince firms to part with their assets. GlaxoSmithKline said the bids fundamentally undervalue the business.
“GSK is thought to be holding out for £60bn”
Marc Kimsey, Frederick & Oliver
Shares in Unilever are currently 5.8% lower, whilst GSK is trading higher by 5.3%. Traders are monitoring the situation in anticipation of an improved offer.
Read the full story here
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By Marc Kimsey