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Pin to quick picksGlaxosmithkline Share News (GSK)

Share Price Information for Glaxosmithkline (GSK)

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Share Price: 1,761.00
Bid: 1,757.50
Ask: 1,758.00
Change: 27.50 (1.59%)
Spread: 0.50 (0.028%)
Open: 1,736.00
High: 1,767.00
Low: 1,736.00
Prev. Close: 1,733.50
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Unilever agrees £3.1bn Horlicks deal with GSK

Mon, 03rd Dec 2018 08:41

(Sharecast News) - Unilever has struck a deal to buy Horlicks and other nutrition brands listed in India and Bangladesh from GlaxoSmithKline for roughly £3.1bn.Glaxo's 72.5%-owned subsidiary GSK Consumer Healthcare, known as GSK India, would be merged with Hindustan Unilever, in which parent Unilever owns 67.2%. Both companies are listed on India's National Stock Exchange and Bombay Stock Exchange in Mumbai.As part of the estimated £3.1bn total transaction price, Unilever will pay around £0.57bn for GSK's 82% stake in its Bangladeshi business, which includes various brand rights for GSK's consumer healthcare nutrition activities in certain other territories.Unilever said its total consideration was €3.3bn of cash and shares in Hindustan Unilever.GSK, which had been in exclusive talks with its fellow FTSE 100 company after other interested parties dropped out of the buying process, said its net proceeds from the sale of the GSK India and Bangladesh stakes was estimated to be around £2.4bn and that it would be left with a stake of 5.7% in the merged Indian entity, which it would sell down gradually.GSK India's health-food-drinks (HFD) portfolio generated turnover of around €550m in 2018, primarily through the Horlicks and Boost brands, with 90% of this coming from India. The deal values it at 317bn Indian rupees in total, or 7,540 rupees per share, a 15.4% premium to the share price at close of business on 26 March.GSK chief executive Emma Walmsley said: "Horlicks has made a significant contribution to GSK and to the health of consumers across India for many decades and we believe Unilever is well placed to maximise its future potential. Proceeds from this transaction will be used to support the Group's strategic priorities, including investing in our pharmaceutical business."Despite the HFD portfolio's "long history in India" and double-digit growth over the last 15 years, Unilver said it was "well positioned to further develop the market given the extent of its reach and capabilities" of the category that "still remains under-penetrated in India".Unilever's food & refreshment chief, Nitin Paranjpe, said: "The acquisition is transformative for our Foods and Refreshment business allowing us to enter the health foods drinks category, further strengthening our position in health and wellness. It is rare to be able to acquire brands with such leading market positions and fantastic consumer equity in one of the world's most exciting and fast-growing markets. Improving the health and wellbeing of 1 billion people by 2020 is a key pillar in our Unilever Sustainable Living Plan."Just a couple of hours later, GSK announced that it would spend all the cash from the deal and more to buy US specialist oncology pharma company Tesaro for $5.1bn (£4bn).
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21 Feb 2024 07:22

GSK's ViiV sees success in latest HIV treatment trial

(Sharecast News) - GSK's specialist HIV unit ViiV Healthcare, which it owns in partnership with Pfizer and Shionogi, unveiled promising findings from the 'LATITUDE' phase three trial of its long-acting injectable HIV treatment Cabenuva on Wednesday.

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20 Feb 2024 15:10

PRESS: AJ Bell founder to join Applied Nutrition ahead of IPO - Sky

(Alliance News) - Supplements maker Applied Nutrition, plotting a London stock market float, is to add AJ Bell PLC founder Andy Bell as its chair, Sky News reported on Tuesday.

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20 Feb 2024 08:55

IN BRIEF: Diageo welcomes GSK's CFO as non-executive director

Diageo PLC - London-based brewer and distiller sells more than 200 drinks brands, including Guinness stout, Captain Morgan rum and Johnnie Walker whisky - Appoints GSK PLC's chief financial officer and executive director, Julie Brown, as a non-executive director. Says she will succeed Alan Stewart as chair of the audit committee after his retirement following the firm's annual general meeting in September. Chair Javier Ferran says: "Julie brings many years of experience in financial, commercial and strategic roles in international companies operating in highly regulated industries. She is strongly committed to enabling diversity in business and to creating sustainable, long-term value for stakeholders. I look forward to her contribution to Board discussions and to working with her in progressing Diageo's ambition to be one of the most trusted and respected consumer products companies in the world."

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15 Feb 2024 14:44

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15 Feb 2024 11:02

Berenberg hikes target price on GSK

(Sharecast News) - Analysts at Berenberg hiked their target price on drugmaker GSK from £16.50 to £18.20 on Thursday, stating the group was moving closer to offsetting losses associated with the expiry of its patent on HIV drug dolutegravir.

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15 Feb 2024 09:45

LONDON BROKER RATINGS: Jefferies cuts Kingfisher but Citi raises

(Alliance News) - The following London-listed shares received analyst recommendations Thursday morning and Wednesday:

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15 Feb 2024 08:49

GSK completes USD1.4 billion purchase of respiratory firm Aiolos Bio

(Alliance News) - GSK PLC on Thursday said it has completed the acquisition of Aiolos Bio Ltd, expanding its respiratory portfolio with a potential "best-in-class" asthma treatment.

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13 Feb 2024 16:53

LONDON MARKET CLOSE: Stocks in red amid sticky US inflation data

(Alliance News) - Stock prices in London closed in the red on Tuesday, after a key US inflation reading came in hotter-than-expected.

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13 Feb 2024 16:21

London close: Stocks fall as US inflation tops expectations

(Sharecast News) - London markets ended the trading day in negative territory on Tuesday, influenced by concerns over higher inflation figures from the United States and a deceleration in wage growth within the UK.

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13 Feb 2024 16:21

London close: Stocks fall as US inflation tops expectations

(Sharecast News) - London markets ended the trading day in negative territory on Tuesday, influenced by concerns over higher inflation figures from the United States and a deceleration in wage growth within the UK.

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13 Feb 2024 12:06

LONDON MARKET MIDDAY: Stocks fall but pound up before US data

(Alliance News) - Stock prices in London were on the decline on Tuesday afternoon, with sentiment tetchy ahead of a US inflation report later.

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13 Feb 2024 09:45

Citi ups recommendation on GSK to 'buy'

(Sharecast News) - Citi has upgraded its rating on vaccines and drugs blue chip GSK to 'buy' while also boosting its earnings estimates.

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13 Feb 2024 09:32

LONDON BROKER RATINGS: Citi lifts GSK; Shore likes XPS Pensions

(Alliance News) - The following London-listed shares received analyst recommendations Tuesday morning and Monday:

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13 Feb 2024 07:45

LONDON BRIEFING: "Record" Tui quarter; Ultimate Products eyes payouts

(Alliance News) - London's FTSE 100 is to open ever-so-slightly lower on Tuesday, with trade set to be nervy ahead of the afternoon's US inflation data.

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12 Feb 2024 17:11

London close: Stocks finish higher after very quiet Monday

(Sharecast News) - London markets managed modest gains by the close of a subdued trading session on Monday, with no significant corporate or economic catalysts driving movements.

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