Tue. Jan 25th, 2022

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LONDON — Pharmaceutical group GlaxoSmithKline said it had rejected a 50-billion-pound ($68.4 billion) bid by Unilever for its consumer healthcare assets which GSK said “fundamentally undervalued” the business and its future prospects.

GSK said in a statement on Saturday that it had received three bids from Unilever, the latest on Dec. 20 comprising 41.7 billion pounds in cash and 8.3 billion pounds in Unilever shares.

($1 = 0.7314 pounds) (Writing by William Schomberg; editing by David Evans)

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