GSK's consumer division, which is run as a JV with Pfizer, includes Sensodyne toothpaste, Polident denture products, pain reliever Advil and Centrum vitamins.
It is also looking to boost the value of its shares, which have fallen around 4.5 percent under ceo , whose mantra is people over profit and who is leading a sustainability crusade at the consumer giant, parent of brands ranging from Dove, Pond’s, Vaseline to Ben & Jerry’s.
GSK announced last summer it was looking to spin off its consumer health care division with a new stock exchange listing, while GSK would focus on its vaccines and pharma businesses., a former Unilever executive and the man who turned the ailing Tesco around, as executive chair designate of the new consumer healthcare company, post-spinoff. Lewis was a graduate trainee at Unilever, and rose to become president of global personal care at the company before leaving to become ceo of Tesco.
It said the latest proposal, received on Dec. 20, was for a total acquisition value of 50 billion pounds, comprising 41.7 billion pounds in cash and 8.3 billion pounds in Unilever shares. The company said that its board is “strongly focused on maximizing value for GSK shareholders and has carefully evaluated each Unilever proposal. In doing so, the board and its advisers assessed the proposals relative to the financial planning assessments completed to support the proposed demerger of the business in mid-2022, including the sales growth outlook.
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