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    ULVR   GB00B10RZP78

UNILEVER PLC

(ULVR)
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Delayed London Stock Exchange  -  05/27 11:39:44 am EDT
3475.50 GBX   -0.36%
05/27Unilever supply chain in Gartner 'Masters' category fourth year running
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05/27Fitch Affirms Unilever at 'A'; Stable Outlook
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05/26Fitch Maintains Unilever's Ratings on Expected Profit Recovery in FY23
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Glaxo Unit Valuation Boost Looks Less Likely as Unilever Walks -- Market Insight

01/21/2022 | 11:39am EDT

Commentary by Adrià Calatayud


Unilever's unwillingness to increase its offer for GlaxoSmithKline's consumer-healthcare business beyond the around $68 billion that were rejected as too low might temper expectations at the pharmaceutical company over the valuation potential buyers would be ready to pay.

Glaxo last year set out plans for a demerger of the business in mid-2022, but activist hedge fund Elliott Management in July urged the company to explore a sale rather than a spinoff.

Glaxo, which has a 68% stake in the unit with the remaining 32% owned by Pfizer, said Unilever's proposals fundamentally undervalued the business and its future prospects.

Unilever's decision to effectively walk away from the deal came after facing strong pushback from its own investors when the approach became public, which suggests not all market players share Glaxo's views on how much the business is worth.

Procter & Gamble, which had been cited by analysts as a potential suitor for Glaxo's consumer-healthcare business along with Reckitt Benckiser and Nestlé, ruled itself out when CEO Jon Moeller said Wednesday that the company didn't need big acquisitions.

Analysts at Berenberg earlier this week said Unilever's bid valued Glaxo's consumer business at 19.8 times its forecast Ebitda for 2021, a 15% premium to the average in the household and personal-care goods industry. S

Shares in Glaxo closed 1.8% lower in London Thursday, erasing their gains earlier in the week on news of Unilever's approach.


Market Insights are commentary that is independent of the news coverage by reporters at The Wall Street Journal.


Write to Adrià Calatayud at adria.calatayud@dowjones.com


(END) Dow Jones Newswires

01-21-22 1139ET

Stocks mentioned in the article
ChangeLast1st jan.
GSK PLC -1.17% 1733.2 Delayed Quote.7.88%
NESTLÉ S.A. 2.05% 116.58 Delayed Quote.-8.52%
PFIZER, INC. -0.15% 53.91 Delayed Quote.-8.70%
PROCTER & GAMBLE COMPANY 1.53% 148.72 Delayed Quote.-9.08%
RECKITT BENCKISER GROUP PLC -0.97% 6118 Delayed Quote.-3.53%
S&P 500 2.47% 4158.24 Real-time Quote.-12.76%
UNILEVER PLC -0.36% 3475.5 Delayed Quote.-11.91%
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05/27Unilever supply chain in Gartner 'Masters' category fourth year running
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Analyst Recommendations on UNILEVER PLC
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Financials
Sales 2022 57 621 M 61 732 M 61 732 M
Net income 2022 5 639 M 6 041 M 6 041 M
Net Debt 2022 23 916 M 25 623 M 25 623 M
P/E ratio 2022 19,5x
Yield 2022 4,16%
Capitalization 104 B 112 B 112 B
EV / Sales 2022 2,23x
EV / Sales 2023 2,14x
Nbr of Employees 148 012
Free-Float 95,5%
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Technical analysis trends UNILEVER PLC
Short TermMid-TermLong Term
TrendsNeutralNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 20
Last Close Price 40,92 €
Average target price 47,14 €
Spread / Average Target 15,2%
EPS Revisions
Managers and Directors
Alan Jope Chief Executive Officer & Executive Director
Graeme David Pitkethly Chief Financial Officer & Executive Director
Nils Smedegaard Andersen Chairman
Richard Slater Chief Research & Development Officer
Nitin Paranjpe Chief Operating, Transformation & People Officer
Sector and Competitors
1st jan.Capi. (M$)
UNILEVER PLC-11.91%111 745
PROCTER & GAMBLE COMPANY-9.08%356 823
THE ESTÉE LAUDER COMPANIES INC.-35.06%90 001
HINDUSTAN UNILEVER LIMITED-1.25%70 581
COLGATE-PALMOLIVE COMPANY-7.59%66 080
RECKITT BENCKISER GROUP PLC-3.53%55 187