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Unilever emerges as leading bidder for less than $4-bn Horlicks: Report

Some analysts considered the $4 billion valuation high considering the Indian market for so-called health drinks

Reuters  |  Hong Kong/Zurich 

Unilever PLC has emerged as the leading bidder in a tight contest for GlaxoSmithKline PLC's Indian Horlicks nutrition business, two people familiar with the situation told Reuters on Wednesday. If it is able to clinch the deal, Unilever will trump fellow European consumer giant Nestle SA, which according to an Indian media report earlier on Wednesday was close to buying Horlicks and other GSK consumer healthcare assets in India. Unilever and GSK, which owns 72.5 percent of Indian business GlaxoSmithKline Consumer Healthcare Ltd, were in exclusive talks, the Financial Times ...

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First Published: Wed, November 28 2018. 15:39 IST