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Share Price: 1,596.50
Bid: 1,596.00
Ask: 1,597.00
Change: -8.00 (-0.50%)
Spread: 1.00 (0.063%)
Open: 1,613.00
High: 1,613.00
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Prev. Close: 1,604.50
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Unilever's soap opera: M&A, Nelson Peltz, CEO to retire

Mon, 26th Sep 2022 11:19

Sept 26 (Reuters) - Unilever CEO Alan Jope plans to retire at the end of 2023 roughly two months after activist investor Nelson Peltz joined the board of the consumer goods company.

The maker of Dove soap and Magnum ice cream has had a bumpy few years, with shares falling about a quarter from highs seen in late 2019 and CEO Alan Jope's plans facing scrutiny.

Here are key developments around Unilever in the past year.

NOV. 18, 2021:

Unilever agreed to sell its global tea business to CVC Capital Partners for 4.5 billion euros ($5.1 billion), concluding a process of reviewing and spinning off the division that had taken more than two years.

JAN. 15, 2022:

GlaxoSmithKline (GSK) said it had rejected a 50-billion-pound ($68 billion) offer for its consumer goods business from Unilever. The offer "fundamentally undervalued" the business, said GSK.

GSK said it had received a third approach from Unilever on Dec. 20 and that the offer had comprised 41.7 billion pounds in cash and 8.3 billion in Unilever shares.

Unilever confirmed that it had approached GSK about buying the business.

JAN. 17

Unilever signalled it would still pursue a deal for GSK's consumer business, calling it a "strong strategic fit," but its shares slid more than 8%. The company also said it would announce an initiative later in the month to strengthen its business.

JAN. 19

Unilever said it would not raise its offer for GSK's consumer healthcare business from 50 billion pounds, effectively abandoning its pursuit of the GSK business. Sources had told Reuters GSK would not engage with Unilever unless the offer were sweetened.

JAN. 20

British fund manager Terry Smith criticised the failed bid as a "near death experience" and urged Unilever to focus on strengthening performance.

JAN. 23

A source told Reuters that the hedge fund of activist investor Nelson Peltz, Trian Partners, had built a stake in Unilever, ratcheting up pressure on the company, months after Peltz had stepped down from the board of rival P&G.

JAN. 24

Unilever shares rose 6% on reports of Peltz having acquired a stake.

JAN. 25

Unilever unveiled plans to cut about 1,500 management jobs and reshape its business to focus on five main product areas as it tried to boost growth.

MARCH 8

Unilever became the first major European food company to stop imports into and exports from Russia after the country's invasion of Ukraine.

APRIL 28

Unilever raised prices by more than 8% in the first quarter and warned more rises were on the way as it lifted its cost-inflation forecast for the second half of the year due to the Ukraine conflict.

MAY 31

Unilever announced the appointment of Nelson Peltz to its board as it engaged in talks about strategy with the American activist investor, who now holds around a 1.5% stake in the company, a Unilever statement said.

June 30

Unilever sold its Ben & Jerry's ice cream business in Israel to its local licensee for an undisclosed sum, aiming to smooth over a diplomatic dispute.

July 20

Peltz joins Unilever board. (Reporting by Pushkala Aripaka and Yadarisa Shabong in Bengaluru Editing by Mark Potter, Bradley Perrett and Jane Merriman)

More News
18 Sep 2023 07:18

US FDA approves GSK treatment for myelofibrosis

(Sharecast News) - GSK announced on Monday that the US Food and Drug Administration (FDA) has granted approval for 'Ojjaara', or momelotinib, as a treatment for adults suffering from intermediate or high-risk myelofibrosis with anaemia, including cases of primary myelofibrosis or secondary myelofibrosis.

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15 Sep 2023 21:52

GSK's Ojjaara approved in US for myelofibrosis patients with anaemia

(Alliance News) - GSK PLC on Friday said Ojjaara, also known as momelotinib, has been approved in the US and the "first and only" treatment indicated for myelofibrosis patients with anaemia.

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11 Sep 2023 08:24

Japan accepts GSK's regulatory filing for momelotinib for blood cancer

(Alliance News) - GSK PLC on Monday reported regulatory progress for momelotinib, as Japan's Ministry of Health, Labour & Welfare accepted a review for the blood cancer-focused drug.

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11 Sep 2023 07:54

LONDON BRIEFING: Restaurant Group sells Frankie & Benny's and Chiquito

(Alliance News) - Stocks in London are called higher on Monday, ahead of a busy week of interest rate decisions and economic data.

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6 Sep 2023 09:32

LONDON BROKER RATINGS: Shore says 'buy' B&M; Peel Hunt likes Halfords

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

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4 Sep 2023 06:00

More UK babies to need hospital treatment over delay of GSK's RSV jab

(Alliance News) - The nation's top children's doctor has warned a delay on a new vaccine to combat respiratory syncytial virus, or RSV, will mean more babies and infants will need hospital treatment this winter.

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1 Sep 2023 09:11

GSK antibody accepted for Japan review, Goldman Sachs reduces stake

(Alliance News) - GSK PLC on Friday said a new drug application for its monoclonal antibody mepolizumab has been accepted for review by the Japanese government.

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1 Sep 2023 07:49

LONDON BRIEFING: Stocks seen higher; UK house prices continue to fall

(Alliance News) - Stocks in London are set to open higher on Friday as markets looked ahead to a data-heavy day.

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1 Sep 2023 07:12

Japan considering GSK's Nucala drug for sinusitis treatment

(Sharecast News) - Japanese regulators are reviewing a new drug application for GSK's Nucala treatment to be used for the treatment of form of adult sinusitis, the biopharma giant announced on Friday.

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23 Aug 2023 12:10

LONDON MARKET MIDDAY: Stocks rise but pound slumps on sub-par UK data

(Alliance News) - Stocks in Europe were on the up heading into Wednesday afternoon, with equity markets in a confident mood on the eve of the Jackson Hole central banking event, shaking off tepid economic data which hurt the pound and euro.

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23 Aug 2023 08:17

GSK gets positive results from shingles trial of Shingrix in China

(Alliance News) - GSK PLC on Wednesday celebrated positive results from the first-ever efficacy trial of its preventative shingles treatment, Shingrix, in China.

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23 Aug 2023 07:04

GSK reports positive results from shingles vaccine trials in China

(Sharecast News) - GSK reported significant positive findings from its first efficacy trial of the 'Shingrix' shingles vaccine in China on Wednesday.

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22 Aug 2023 13:09

UK's Wood Group raises profit forecast on contract wins; shares rise

CFO David Kemp to retire

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21 Aug 2023 22:37

US FDA approves Pfizer's maternal RSV vaccine to protect infants

Aug 21 (Reuters) - The U.S. Food and Drug Administration on Monday approved Pfizer's respiratory syncytial virus (RSV) vaccine for use in women during the middle of the third trimester of pregnancy to protect their babies.

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17 Aug 2023 19:53

Charity says HIV drug deal with GSK's ViiV on ice over price secrecy

(Alliance News) - The Doctors Without Borders, or MSF, charity said Thursday a deal aimed to bring long-term preventative HIV treatment to vulnerable populations was on hold after the drugmaker imposed pricing confidentiality.

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