Unilever shares rose over 3% in premarket trading

Unilever shares rose 3% in premarket trading. Unilever confirmed its proposed acquisition of Glaxo's consumer unit.Unilever Plc has held talks with banks about additional financing for a potential sweetened offer for GlaxoSmithKline Plc’s consumer products division, according to people familiar with the matter.

Some financial firms have discussed lending enough for a bid higher than 50 billion pounds ($68 billion) -- the latest of three offers Glaxo has rejected for a bundle of brands including Advil painkiller and Sensodyne toothpaste.

Unilever hasn’t made a final decision on using the firepower, said the people, who requested anonymity as they aren’t allowed to speak publicly. The owner of Ben & Jerry’s ice cream and Dove soap could eventually sell some non-core assets from the Glaxo portfolio to buyers including private equity firms, which could help fund an acquisition, the people said.

Glaxo over the weekend said it had rejected Unilever’s offers as too low after the U.K. consumer-products company confirmed its approach. The drugmaker said it’s sticking with plans to spin off the portfolio of brands.