THE WHAT? Unilever has responded to rumors swirling around a potential purchase of GSK’s Consumer Healthcare unit. The UK-based FMCG giant confirmed that it has approached GSK and Pfizer about a potential acquisition of the business.

THE DETAILS Bloomberg quoting the Times as its source, reports that GSK has rejected an unsolicited offer of US$68.4 billion from Unilever.

THE WHY? Unilever said that GSK Consumer Healthcare, as a leader in the attractive consumer health space, would be a strong strategic fit as it continues to reshape its portfolio. The manufacturer of Dove released a company update revealing that its strategic direction lies in materially expanding its presence in Health, Beauty, and Hygiene.