Unilever PLC (UL)

[FUNMAN]

Unilever is unlikely to acquire GlaxoSmithKline’s consumer unit

Unilever update, 19 January 2022
Published: 18/01/2022

https://www.unilever.com/news/press-and-media/press-releases/2022/unilever-update-19-january-2022/

London, 19 January 2022. We note the recently shared financial assumptions from the current owners of GSK Consumer Healthcare and have determined that it does not change our view on fundamental value.

Accordingly, we will not increase our offer above £50bn.

Unilever is committed to maintaining strict financial discipline to ensure that acquisitions create value for our shareholders. Unilever also reiterates its commitment to continuing to improve the performance of its existing portfolio through its ongoing focus on operational excellence, its upcoming reorganization and by rotating the portfolio to higher growth categories.

We look forward to updating on our performance for Q4, and the full year, on February 10th and continued engagement with shareholders.