Nestle and Anglo-Dutch consumer giant Unilever are pitted against each other in the final round of talks for GlaxoSmithKline’s consumer nutrition business which includes Horlicks, The Economic Times reported.

The third contender Coca-Cola has opted out of the competition, the report said citing three people aware of the development.

The bids are believed to be in the range of $3.1 – 3.5 billion and the winner will also have to launch an open offer to buy an additional 26 percent stake in the GSK Consumer Healthcare, the report said.

The deadline for the submission of the final bid offer has been extended by a few days. The earlier deadline was on November 17, the report added.

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