Consumer goods behemoth Unilever is considering a $1 billion (£770 million) bid for Chinese dental firm Weimeizi, it emerged on Friday.
Other bidders include US toothpaste-maker Colgate-Palmolive and Church & Dwight, the South China Morning Post said.
Each suitor has a presence in China and a City source said the move shows that the country remains attractive to consumer goods firms despite its trade war with Donald Trump’s America.
Guangzhou-headquartered Weimeizi, backed by Asian venture capital firms, makes toothpaste and toothbrushes under the Saky brand. Citigroup is advising on a sale.
It would be a big deal for Unilever: the FTSE 100 firm has had a dramatic time since February last year when it batted away a £115 billion takeover bid from Kraft Heinz.
Last month, the Anglo-Dutch company, which is behind Dove soap and Vaseline, abandoned plans to move its legal HQ to the Netherlands after a shareholder rebellion. Unilever declined to comment today.
