Posted on

Unilever Pursues Glaxo and Pfizer Consumer Health Venture


LONDON — The company behind Advil, ChapStick and Tums is the target of the first big multibillion-dollar takeover fight of 2022.Unilever said on Monday that it remained interested in buying the maker of those products, a joint venture of GlaxoSmithKline and Pfizer, after its previous takeover bids had been rejected.“GSK Consumer Health would be a strong strategic fit,” Unilever said in a statement, adding that a deal “would also deliver value and certainty for the shareholders of GSK and Pfizer.”Monday’s announcement was effectively a signal of intent that Unilever was willing to pursue one of the costliest takeover fights in the consumer health business in recent years. On Saturday, GlaxoSmithKline said it had rejected Unilever’s three previous takeover bids — the most recent of which was 50 billion pounds, or $68 billion — for “fundamentally” undervaluing the business.A spokesman for GlaxoSmithKline declined to comment on Unilever’s Monday announcement, and referred to his company’ …

Read More