Angry Unilever investors have warned the consumer goods giant against attempting any further big acquisitions and sent a coded message to chief executive Alan Jope that his job is on the line.
Shares in the FTSE 100 maker of Comfort fabric softener and Domestos bleach fell by almost 7 per cent last week after The Sunday Times revealed it had made a £50 billion bid for Glaxo Smith Kline’s consumer health business. Glaxo rejected the last of three offers on New Year’s Eve, saying that the price “fundamentally” undervalued its prospects.
The reaction from analysts and investors appeared to rule out the prospect of a fourth attempt by Unilever, with Jope backtracking on Wednesday and promising not to offer more than £50 billion. The
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