Unilever has pledged to grow its health, beauty and hygiene business and sell slower-growing operations as investors dumped its shares after its failed £50bn approach for GlaxoSmithKline’s consumer products arm.
GSK rejected three Unilever bids for the consumer products arm it is seeking to spin off, the last of which was worth £50bn. The pharmaceutical company on Saturday said that the offer “fundamentally undervalued” the business, which owns brands including Panadol pain relief and Sensodyne toothpaste.
