Unilever fighting to buy GlaxoSmithKline, Pfizer joint venture

After three rejected bids, London-based Unilever said it is still interested in purchasing GSK Consumer Healthcare, which is a joint venture between GlaxoSmithKline and Pfizer and makes popular products such as Advil and ChapStick, The New York Times reported Jan. 18.

Unilever said in a press release Jan. 16 that it is still fighting to pursue GSK Consumer Healthcare as it looks to expand its presence in beauty, hygiene and health.

Unilever has been rejected three times.

"GSK Consumer Healthcare would be a strong strategic fit," Unilever said in the press release, stating that the deal "would also deliver value and certainty for the shareholders of GSK and Pfizer." 

On Jan. 15, GSK released its own statement regarding Unilever's bids, saying that the bids were unsolicited and undervalued the consumer healthcare business. 

Unilever's most recent bid to GSK was $68 billion, according to The New York Times.

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