GSK tangoes with private equity players to explore $54B sale of consumer unit instead of IPO — report

The spinout of GlaxoSmithKline’s consumer health unit could reportedly take the form of a $54 billion sale to private equity firms.

It would mark a pivot from previous plans to turn that group into its own listed company — one in which current GSK shareholders can continue to own a stake — amid intense pressure from a pair of activist investors calling for a drastic shakeup at the top.