Read Moree>> Nestle, the world’s largest food and drinks company, is pitted against Anglo-Dutch consumer giant Unilever in the final round of negotiations for GlaxoSmithKline’s consumer nutrition business in India that includes the prized Horlicks malt drink brand, said three people aware of the development. Between the two, NestleNSE -2.27 % is believed to be the frontrunner with a more aggressive offer. Coca-Cola, the third contender selected for the protracted due diligence process, is said to have opted ..
GSK Consumer Healthcare shares have climbed about 10% this year, outperforming the Sensex gain of 3.6%, taking it to a market cap of Rs 30,249.29 crore. The bids are believed to be in the $3.1-3.5 billion range for GSK’s stake. The winner will have to launch an open offer to mop up an additional 26% stake. It’s not clear if it would want to take the company private or scale down to adhere to listing regulations.