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The $68 billion offer included an array of oral care brands including Sensodyne and Aquafresh.
January 16, 2022
By: TOM BRANNA
Editor
GlaxoSmithKline has rejected Unilever's BPS50 billion ($68 billion at current exchange rates) bid for its consumer healthcare business. GSK is ranked No. 12 in Happi's International Top 30. Unilever is ranked No. 1 on the Happi list. Today, Unilever is said to be increasing its offer. GSK is among the global leaders in the oral care sector with brands like Sensodyne, Dr. Best and Aquafresh. In a statement, GSK said that a series of three bids made by Unilever last year, the last on December 20, were all rejected “on the basis that they fundamentally undervalued” the unit and its future prospects. The consumer healthcare business is a joint venture between GSK and Pfizer. GSK now expects to spin-off the business later this year. After integrating the consumer health businesses of Novartis (2015) and Pfizer (2019), GSK said the business unit attained annual sales of 9.6 billion pounds ($13.1 billion) in 2021.
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