Unilever will not increase 50-billion-pound offer for GSK consumer arm

Dove soap maker Unilever PLC said on Wednesday it would not increase its 50-billion-pound ($68 billion) proposal to buy GSK's consumer healthcare business. GlaxoSmithKline confirmed over the weekend that it had rejected three bids from Unilever for its consumer arm, which is home to brands such as Sensodyne toothpaste, Emergen-C vitamin supplement and Panadol painkiller.

Dove soap maker Unilever PLC said on Wednesday it would not increase its 50-billion-pound ($68 billion) proposal to buy GSK's consumer healthcare business.

GlaxoSmithKline confirmed over the weekend that it had rejected three bids from Unilever for its consumer arm, which is home to brands such as Sensodyne toothpaste, Emergen-C vitamin supplement and Panadol painkiller. "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," Unilever said in a statement.

New York-listed shares in Unilever climbed nearly 10% after the announcement. ($1 = 0.7337 pounds)