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Unilever has defended its plan to buy GlaxoSmithKline’s consumer health department after skepticism from analysts about the £ 50 billion bid.

The manufacturer of Dove soap, Hellmann’s mayonnaise and Domestos bleach, said today that GSK Consumer Healthcare was a “strong strategic fit”, and the proposed acquisition was in line with Unilever’s plans to increase its presence in health, beauty and hygiene.

“The acquisition will create scale and a growth platform for the combined portfolio in the US, China and India, with further opportunities in other emerging markets,”[ads1]; it said, adding that it would sell “brands and businesses with inherently lower growth”.

Unilever’s approaches to GSK Consumer Healthcare, which makes Aquafresh toothpaste and Panadol painkillers, have so far been rejected, but they hope to continue the talks, according to people familiar with the situation.

The update came when analysts expressed skepticism about the potential deal.

“We see little reason for such an agreement strategically, operationally or financially,” said James Edwardes-Jones, an analyst at RBC Capital Markets.

Bruno Monteyne, an analyst at Bernstein, said the deal would “destroy £ 10bn in value for shareholders”.

Unilever said that after any acquisition “the company would aim for a return to current leverage in the short to medium term”.

The group said it would outline a “major initiative to improve our performance” this month, including structural changes.

Unilever shares fell 4.8 percent in early trading in London. The GSK share rose 5.4 percent.