Unilever is facing a growing investor backlash against its £50bn bid for the consumer health unit of GSK, as its share price tumbled to its lowest level in nearly five years.
One top-20 Unilever shareholder told the Financial Times: “I am against the deal and would vote against it.”
A top-15 investor said: “Unilever management has much to prove” to show investors that the proposed acquisition is “not a sign of desperation”.
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