Consumer goods large Unilever confirmed on Saturday that it had approached pharmaceutical group Glaxosmithkline about shopping for its consumer goods enterprise.
Earlier, Britain's Sunday Times stated the bid was value roughly 50 billion kilos ($68.4 billion) and had been rejected for being too low by GSK and Pfizer, which owns a minority stake in the division.
"GSK Consumer Healthcare is a leader in the attractive consumer health space and would be a strong strategic fit as Unilever continues to re-shape its portfolio," Unilever stated in a press release. "There can be no certainty that any agreement will be reached."
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