The British multinational consumer goods company - Unilever has ruled out any “transformational” acquisitions for the future. This move has come after GlaxoSmithKline’s consumer arm drew heavy investor criticism and sent its share price tumbling.
The Dove soap maker & Ben and Jerry’s ice cream said on Thursday that it had listened to investor concerns about the potential £50 billion deal, and had decided to buy back up to 3 billion euros of shares over the next 2 years.
“We have listened carefully to our shareholders. There’s no appetite for a deal the size of GSK consumer health,” CEO Alan Jope said on Thursday.
“We don’t intend to pursue these types of transformational acquisitions for the foreseeable future. We’ve been unambiguous, we’ve drawn a line under that deal, it’s off the table,” he added.
