Unilever shares gain after opting not to lift bid for GSK assets

Shares in consumer goods giant Unilever inched roughly 2% higher on Thursday after it said late on Wednesday it would not raise its rejected 50 billion pound ($68 billion) offer for GlaxoSmithKline's consumer healthcare business.

Shares in GSK fell 1.5% after Unilever effectively ended its pursuit of a business that the pharmaceuticals company plans to spin off later this year.

Also Read: GSK rejects $68b Unilever bid for consumer healthcare unit

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)