GSK edges out ReckittBenckiser and is now alone in the race for Pfizer’s Consumer Health division ($20bn)

The Financial Times has reported today that Britain-based GlaxoSmithKline is in pole-position to acquire Pfizer’s Consumer Health division, valued at least $20bn. Almost simultaneously Reckitt Benckiser, which last week submitted its own binding offer, has informed in a press release it will pull out of the race to acquire Pfizer’s asset. Multinationals Johnson & Johnson and Nestlé as well expressed interest in the unit during the first steps of its dismissal, yet they pulled out as the time came to submit a binding offer.

(Sources:  FT, ReckittBenckiser)