{"id":124615,"date":"2022-01-18T01:59:10","date_gmt":"2022-01-18T01:59:10","guid":{"rendered":"https:\/\/fin2me.com\/?p=124615"},"modified":"2022-01-18T01:59:10","modified_gmt":"2022-01-18T01:59:10","slug":"why-the-worlds-largest-ice-cream-company-is-betting-on-home-delivery-2","status":"publish","type":"post","link":"https:\/\/fin2me.com\/business\/why-the-worlds-largest-ice-cream-company-is-betting-on-home-delivery-2\/","title":{"rendered":"Why the world&#39;s largest ice cream company is betting on home delivery"},"content":{"rendered":"<p><cite>London (CNN Business)<\/cite><span>Unilever<\/span> <span>(<span>UL<\/span>)<\/span> is willing to pay big money for the company that makes products like Advil, Tums and Aquafresh toothpaste as it tries to<strong> <\/strong>revive its sluggish stock and ramp up its focus on health products.<\/p>\n<p><span>GlaxoSmithKline<\/span> <span>(<span>GLAXF<\/span>)<\/span> said over the weekend that it had received three &#8220;unsolicited&#8221; proposals from Unilever to acquire its consumer healthcare business, which it runs as a joint venture with <span>Pfizer<\/span> <span>(<span>PFE<\/span>)<\/span>. The latest had a price tag of \u00a350 billion ($68 billion).<br \/>\nGSK has rejected the offers, which it said were too low. It&#8217;s planning to spin off the division<strong> <\/strong>later this year, under pressure from shareholders including hedge fund Elliott Investment Management.<\/p>\n<ul><\/ul>\n<p>Unilever confirmed that it had approached GSK about a potential takeover. It said the consumer business &#8220;is a leader in the attractive consumer health space and would be a strong strategic fit as Unilever continues to reshape its portfolio.&#8221;<\/p>\n<ul><\/ul>\n<p>Shares of Unilever fell 7% in London on Monday, while GSK&#8217;s stock traded almost 4% higher. <\/p>\n<p>Unilever could still sweeten its bid. The company said Monday that it&#8217;s pursuing a strategic overhaul that would involve expanding its portfolio of health, beauty and hygiene products. More details will be announced by the end of the month.<br \/>\n&#8220;The group says it will pounce on acquisition opportunities within the space, and they don&#8217;t get much more appealing than this one,&#8221; Laura Hoy, an equity analyst at Hargreaves Lansdown, told clients.<br \/>\nUnilever, the company behind brands such as Ben &amp; Jerry&#8217;s ice cream and Dove soap, has shown it&#8217;s willing to ditch lower-performing food and drink products. Its stock has stagnated in recent months.<br \/>\nIn November, Unilever announced that it was selling its global tea business, which includes names like Lipton and TAZO, to private equity firm CVC Capital Partners.<br \/>\nBut analysts at Berenberg said that Unilever should tread carefully. Its food and drink business &#8220;actually offers some of Unilever&#8217;s most attractive categories,&#8221; such as ice cream and cooking ingredients, they said in a research note.<br \/>\nBritish fund manager Terry Smith thinks Unilever&#8217;s biggest problem is that it&#8217;s focusing too much on sustainability and social justice issues. <\/p>\n<ul><\/ul>\n<p>In a recent letter to shareholders, he wrote that the company is &#8220;laboring under the weight of a management which is obsessed with publicly displaying sustainability credentials at the expense of focusing on the fundamentals of the business.&#8221;<br \/>\n&#8220;A company which feels it has to define the purpose of Hellmann&#8217;s mayonnaise has in our view clearly lost the plot,&#8221; Smith said.<br \/>\nSource: <a href=\"https:\/\/edition.cnn.com\/2022\/01\/17\/business\/unilever-gsk-deal\/index.html\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>London (CNN Business)Unilever (UL) is willing to pay big money for the company that makes products like Advil, Tums and Aquafresh toothpaste as it tries [&#8230;]<\/p>\n","protected":false},"author":3,"featured_media":124614,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - 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