Unilever edges out Nestle for GSK's Horlicks nutrition business

Unilever has offered nearly $3 bn for about 70% of the division

GlaxoSmithKline, gsk
GSK’s assets include the popular malt-based drinks Horlicks and Boost

Unilever has edged out Nestle SA in the contest for GlaxoSmithKline Plc’s $4 billion Indian consumer-health unit, according to people with knowledge of the matter. The Anglo-Dutch maker of Ben & Jerry’s ice cream is in talks to buy the Glaxo business that owns the popular malted-milk brand Horlicks, the people said, declining to be identified as the deliberations are confidential. Nestle has dropped out, they said. Unilever has offered to pay roughly $3 billion for about 70 percent of the division, the people said. Both sides are working toward reaching an ...