 GlaxoSmithKline PLC LSE:GSK said the 50bn offer by Unilever PLC LSE:ULVR for its Consumer Healthcare business fundamentally undervalues the business. Unilever made three unsolicited approaches to acquire the business in which GlaxoSmithKline GSK has a 68 stake the rest is owned by US drugs giant Pfizer Inc NYSE:PFE and all were rejected by GSK. 