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Unilever confirms interest in GSK consumer goods arm

An employee straightens a row of Dove shampoo bottles, a product of Anglo-Dutch company Unilever.
Tengku Bahar | AFP | Getty Images

Consumer goods giant Unilever confirmed on Saturday that it had approached pharmaceutical group Glaxosmithkline about buying its consumer goods business.

Earlier, Britain's Sunday Times said the bid was worth roughly 50 billion pounds ($68.4 billion) and had been rejected for being too low by GSK and Pfizer, which owns a minority stake in the division.

"GSK Consumer Healthcare is a leader in the attractive consumer health space and would be a strong strategic fit as Unilever continues to re-shape its portfolio," Unilever said in a statement. "There can be no certainty that any agreement will be reached."