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Monday,17 January 2022 at 16:53

Unilever maintains that they are still keen to purchase Glaxo SmithKline’s consumer healthcare arm after having a £50 Billion third offer rejected.

The unscheduled announcement came after Glaxo SmithKline confirmed over the weekend it had rejected a third offer for the division which owns the Panadol and Sensodyne brand names.

They said that the offer from Unilever fundamentally undervalued the consumer business and its prospects, adding that they were still committed to separating the business from their medical arm and floating it on the London Stock Exchange.

Valuations of Glaxo SmithKline’s consumer healthcare arm by analysts have ranged from £45bn to £48bn.

UK and European markets closed higher as investors digested a string of corporate news and the latest growth data out of China.

U.S. markets are closed in observance of Martin Luther King Jr. Day.

Oil prices edged up as investors bet supply will remain tight amid restrained output by major producers with global demand unperturbed by the omicron coronavirus variant.

Gold prices held steady as market participants gauged the global economic policy outlook, with inflation-based demand for bullion countering hawkish comments from U.S. Federal Reserve officials, supporting the dollar and Treasury yields. 

At the close
FTSE 100 7,611 +0.91%
FTSE 250 22,871 +0.56%
DAX 15,937 +0.34%
At 16:50
Dow Jones 35,911 (-0.56%)
S&P 500 4,662 +0.08%
NASDAQ 14,893 +0.59%
Fixed Income
UK 10-YR YIELD 1.191
Exchange Rates
GBP/USD 1.364
GBP/EUR 1.196
Gold $1,818 +0.07%
Brent $86.32 +2.69%
Important - No news or research item should be construed as a recommendation to trade. The inclusion of securities within this report does not necessarily imply their suitability for individual portfolios or situations in respect of which further advice should be sought. Information contained in this report has been compiled from sources believed to be reliable but is not warranted to be accurate or complete.

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