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Unilever Considers Increasing Offer for Glaxo’s Consumer Unit — Report

Unilever PLC (UNLYF) is considering raising the offer for GlaxoSmithKline PLC’s (NYSE: GSK) consumer products unit, Bloomberg said citing people familiar with the matter.

Over the weekend, GSK rejected Unilever’s £50 billion ($68 billion) offer for its consumer products division, which includes brands like Advil and Sensodyne.

The FMCG giant is in talks with some financial firms for sweetening the offer but has not reached a final decision yet, the sources said.

About Unilever

Headquartered in London, the multinational consumer goods company offers household and personal products as well as packaged food and refreshments. Its brands include Knorr soups and sauces, Hellmann’s mayonnaise, Lipton teas, Axe and Dove skin products, and the TRESemme haircare brand.

Wall Street’s Take

Recently, Barclays (NYSE: BCS) analyst Warren Ackerman reiterated a Buy rating on the stock with a price target of $62.87 (16.6% upside potential).

Additionally, Martin Deboo, an analyst with Jefferies (NYSE: JEF), maintained a Buy rating on Unilever with a $63.55 (18% upside potential) price target.

Based on 5 Buy, 5 Hold and 4 Sell ratings from top analysts, the stock has a Hold consensus. The average Unilever price target of $49.81 implies 7.6% downside potential from current levels. Shares have lost 9% over the past six months.

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