GSK plc (LSE/NYSE: GSK) has demerged from its consumer healthcare division to create the publicly-traded company Haleon Group. Haleon is now one of the world’s largest consumer healthcare companies, while GSK will focus on growing its prescription drug and vaccine businesses. The company announced the “Haleon” name in February. In hindsight, GSK would have fared…
Unilever gives up hunt for GSK consumer unit
Unilever (LON:ULVR) recently offered to buy GlaxoSmithKline’s (GSK; NYSE:GSK) consumer healthcare unit for £50 billion (about $68 billion). After facing pushback from analysts, investors and credit rating agencies about the deal, Unilever has abandoned the pursuit. In an announcement, the company said it would not raise its offer above £50 billion, noting that it was committed…
GSK rebuffs Unilever’s offers to buy its consumer healthcare arm
GlaxoSmithKline (GSK; NYSE:GSK) plc announced that it had received three unsolicited proposals from Unilever plc (LON:ULVR) to buy its GSK Consumer Healthcare unit for £50 billion (about $68 billion). GSK rejected the offers, explaining in a statement that the proposals “fundamentally undervalued” the business unit. Last year, the division generated £9.6 billion in revenue. Despite…