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Unilever offered £50bn for GSK unit – report

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LONDON — Consumer goods giant Unilever made a bid towards the end of last year for pharmaceuticals group Glaxosmithkline’s consumer goods business worth around £50 billion ($68.4 billion). dollars), reported Britain’s Sunday Times.

GSK and Pfizer, which owns a minority stake in the division, reportedly rejected the offer on the grounds that it was too low, the newspaper said.

The approach of Unilever, which owns brands such as Dove and Marmite soap, to Glaxo’s portfolio of household brands, including Panadol painkillers and Sensodyne toothpaste, would have been unsolicited, he added.

Unilever’s offer did not include any acquisition premium or recognition of synergies, the newspaper said.

It was unclear whether Unilever would make a higher offer and the talks were not supposed to be live, he said.

Reuters has sought comment from the companies.

($1 = 0.7314 pounds) (Reporting by Mrinmay Dey in Bengaluru; Writing by William Schomberg; Editing by Mark Heinrich and Jan Harvey)