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Pin to quick picksGlaxosmithkline Share News (GSK)

Share Price Information for Glaxosmithkline (GSK)

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Share Price: 1,799.50
Bid: 1,796.00
Ask: 1,796.50
Change: 19.00 (1.07%)
Spread: 0.50 (0.028%)
Open: 1,784.00
High: 1,799.50
Low: 1,780.00
Prev. Close: 1,780.50
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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
17 Jan 2024 09:38

UPDATE: GSK raises GBP978 million as cuts stake in Haleon to 4.2%

(Alliance News) - GSK PLC early Wednesday confirmed it agreed to sell 300 million shares in Haleon PLC, reducing its remaining stake in the consumer healthcare products spin-off to just 4.2%.

Read more
17 Jan 2024 08:05

GSK raises £978m through Haleon share sale

(Sharecast News) - GSK said on Wednesday that it has raised around £978m from the sale of shares in Haleon.

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17 Jan 2024 07:46

LONDON BRIEFING: UK inflation surprises as unexpectedly rises to 4.0%

(Alliance News) - Stocks in London are called to open lower on Wednesday, following some hotter-than-expected consumer price data from the UK.

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17 Jan 2024 07:31

GSK raises $1.24 bln from latest Haleon stake sale

Jan 17 (Reuters) - GSK has raised 978 million pounds ($1.24 billion) from a discounted sale of a stake in its spun-off consumer healthcare business Haleon, the British drugmaker said on Wednesday.

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16 Jan 2024 17:04

GSK to sell GBP1 billion worth of Haleon shares as trims stake again

(Alliance News) - GSK PLC on Tuesday said it intends to sell around GBP1.00 billion worth of shares in Haleon PLC, as it continues to reduce its shareholding in the Weybridge, Surrey-based consumer healthcare spin-off.

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16 Jan 2024 09:14

LONDON BROKER RATINGS: UBS raises GSK and cuts AstraZeneca

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

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16 Jan 2024 08:15

UBS downgrades AstraZeneca to 'sell'

(Sharecast News) - UBS has downgraded AstraZeneca and upgraded rival GSK as part of its latest review of the European pharmaceutical sector.

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16 Jan 2024 07:37

LONDON BRIEFING: UK jobless rate sticks at 4.2% but pay growth slows

(Alliance News) - Stocks in London are called to open lower on Tuesday, following data showing that the UK jobless rate was unchanged at 4.2% as pay growth slowed.

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15 Jan 2024 08:42

Zantac fallout unfairly weighing on GSK, says Shore Capital

(Sharecast News) - Shore Capital has raised its target price and maintained a positive stance on biopharma giant GSK, saying that worries about the potential cost of Zantac litigation are unfairly weighing on the stock.

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10 Jan 2024 09:35

LONDON BROKER RATINGS: BofA cuts Ashtead; UBS likes 3i Group

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

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10 Jan 2024 08:25

GSK says Nucala gets green light in China for asthma treatment

(Alliance News) - GSK PLC on Wednesday said Nucala has been approved in China for the treatment of severe asthma.

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10 Jan 2024 07:22

GSK's Nucala gets fresh approval in China

(Sharecast News) - GSK announced on Wednesday that the China National Medical Products Administration (NMPA) has granted approval for 'Nucala', or mepolizumab, as an add-on maintenance treatment for severe eosinophilic asthma in adults and adolescents aged 12 years and older.

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9 Jan 2024 16:22

London close: Stocks finish red after choppy session

(Sharecast News) - London stocks had turned back into the red by the close on Tuesday, with recruitment firms and asset managers pacing the declines after some disappointing corporate updates.

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9 Jan 2024 08:03

TOP NEWS: GSK to buy Aiolos Bio for up to USD1.4 billion

(Alliance News) - GSK PLC on Tuesday said it will acquire asthma drug developer Aiolos Bio Inc for USD1 billion upfront, as well as up to USD400 million in certain success-based milestone payments.

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9 Jan 2024 07:16

GSK buys respiratory drug maker Aiolos for $1bn

(Sharecast News) - GSK said it was buying Aiolos, a clinical-stage biopharmaceutical company focused on treatment of respiratory and inflammatory conditions, for up to $1.4bn (£1.1bn).

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