Unilever’s doomed £50bn GlaxoSmithKline bid was a ‘near-death experience’

Alan Jope , Unilever press image

Fund manager Terry Smith made a fresh attack on Unilever following the collapse of its bid for GlaxoSmithKline’s consumer-health unit, saying the Dove soap maker needs to focus more on fixing its own business.

In a letter to shareholders, the outspoken investor described the failed approach as a “near-death experience,” saying that Unilever CEO Alan Jope’s attempt to purchase the GSK consumer business is now “thankfully dead rather than the value of our investment.”