Unilever the maker of Vaseline skin care products and Dove soap, says it won’t increase a 50 billion-pound ($68.2 billion) offer for GlaxoSmithKline’s consumer healthcare unit that was rejected last week.
London-based GSK said Saturday that the bid “fundamentally undervalued” the unit. The offer, which included 41.7 billion pounds in cash and Unilever shares valued at 8.3 billion pounds, was the latest of three unsolicited approaches from Unilever, GSK said in a statement.
