GlaxoSmithKline shares soar after Unilever bid for consumer health unit
Shares of GlaxoSmithKline rose on Monday, while Unilever stock tumbled following a failed $68 billion bid by the latter to acquire the pharmaceutical giant’s consumer healthcare arm.
At the top of the decliner’s list, Unilever shares dropped 8%. The U.K. consumer goods group announced Monday that it will focus on higher-growth categories such as health, beauty and hygiene following a strategic review. That plan will include acquisitions and divesting lower growth brands and businesses, it said.
“In theory this war chest provides ample strategic optionality to rebuild a pipeline and invest in focus therapeutic areas, but at least initially we expect many shareholders would fear a large acquisition and the risk of inferior returns,” said the analyst. Jefferies rates GlaxoSmithKline a buy.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Factbox: GSK's consumer health businessConsumer goods giant Unilever has approached GlaxoSmithKline about buying the pharmaceutical group's consumer goods arm, after a newspaper reported that a 50 billion-pound ($68.4 billion) bid it made had been rebuffed.
Lire la suite »
Unilever to weigh raising offer for GSK's consumer assets - BloombergUnilever Plc has held talks with banks about additional financing for a potential sweetened offer for GlaxoSmithKline Plc's consumer products division, Bloomberg reported on Sunday, citing people familiar with the matter.
Lire la suite »
GSK Rejects Three Bids from Unilever for Consumer Healthcare DivisionGSK's consumer division, which is run as a JV with Pfizer, includes Sensodyne toothpaste, Polident denture products, pain reliever Advil and Centrum vitamins.
Lire la suite »
How to recruit retired Americans and end labor shortageEmployers scrambling to hire workers should recruit the 47 million retired Americans, economists say. Here's everything you should know.
Lire la suite »
How the Fed combats recessions doesn't work and benefits the richOpinion: The Federal Reserve's plan to combat recessions rarely works and often benefits the already-rich — here's why (by paulconstant)
Lire la suite »
Omicron disrupting January economy with cancellations and delaysInsider tells the global tech, finance, markets, media, healthcare, and strategy stories you want to know.
Lire la suite »