Unilever said it had received an offer of $50 per share, made up of $30.23 in cash and the remainder in stock in the new group, representing a premium of 18 percent.
"This fundamentally undervalues Unilever," it said on Friday. "Unilever rejected the proposal as it sees no merit, either financial or strategic, for Unilever's shareholders. Unilever does not see the basis for any further discussions."
© Thomson Reuters 2017
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