The company's S-1 lays the groundwork for what is widely expected to be one of the largest initial public offerings of the year, second only to Uber's IPO in May. It's also...Technologyread more
Fraud investigator Harry Markopolos' accusations extended beyond GE's management to actuaries, auditors and analysts who he claims overlooked billions in liabilities.Marketsread more
Trump's tweet comes a day after Apple put out a press release describing the money it spends on U.S.-based suppliers and vendors.Technologyread more
CNBC combed through Wall Street research to see which stocks are still a buy after their earnings reports.Marketsread more
President Donald Trump held a call on Wednesday with the CEOs of three major U.S. banks, according to people with knowledge of the situation.Marketsread more
Despite aggressive strides, Waymo needs one thing before their self-driving cars become a seriously useful transportation system: people. We talked to the ones closest to it.Technologyread more
Scientists say the smoke plumes, filled with megatons of tiny, harmful particles, could travel to other areas of the world and cause serious respiratory problems for people.Weather & Natural Disastersread more
Some Weight Watchers loyalists applaud Kurbo by WW. But nutritionists worry Kurbo promotes an unhealthy relationship with food during an especially impressionable time.Health and Scienceread more
Benefits from what President Trump called "the biggest reform of all time" to the tax code have dwindled to a faint breeze just 20 months after its enactment, writes John...Politicsread more
Epstein, 66, was found in his cell in Manhattan federal lockup Saturday morning and transferred to a nearby hospital, where he was subsequently pronounced dead.Politicsread more
Air travelers faced delays at U.S. airports on Friday afternoon after a computer issue snarled processing of international arrivals.Airlinesread more
Initial bids were due on Monday and the three consumer goods giants are seen as frontrunners for a business that offers a significant footprint in a fast-growing emerging market.
Even though Indian shoppers have lately been pressured by a currency devaluation and goods and service tax, the country's growing population and rising wealth make it attractive for companies trying to offset weak growth in Western markets. It was not clear which other companies were bidding, although Reckitt Benckiser -- a company eager to build up its consumer health operation -- did not make an offer, two sources said.
GSK, Nestle, Reckitt and Unilever declined to comment. Officials at Coca-Cola were not immediately available.
Horlicks is a malt-based drink dating back to 1873, when two British-born men, James and William Horlick, founded a company in Chicago to manufacture it. It was taken to India by soldiers who had fought with the British Army in the First World War.
Sold as a bedtime drink in Britain, Horlicks has been developed into a much bigger brand by GSK in India. But the drugmaker started a review of that business and some smaller products, after buying Novartis out of their consumer healthcare joint venture for $13 billion in March.
GSK Chief Executive Emma Walmsley, who took over last year, is looking to sharpen the focus of what is one of the world's more diversified pharmaceuticals companies.
The main asset on the block is GSK's 72.5 percent stake in its Indian subsidiary GlaxoSmithKline Consumer Healthcare which is famous for Horlicks but also makes products including the chocolate-flavored malt-based drink Boost. One source said Nestle was particularly well-suited to buy the business, as the world's biggest packaged food company already owns rival malt drink Milo and has a big presence in India, which bodes well for synergies.
Nestle has told GSK privately of its interest in Horlicks on several occasions over the years, people familiar with the matter told Reuters earlier this year.
For Coke, buying the Horlicks business would mark another multibillion-dollar acquisition, following a deal to buy Costa Coffee for $5.1 billion last month.
The company sold its much smaller UK Horlicks business to Aimia Foods earlier this year for an undisclosed amount.