The UK's Competition and Markets Authority is inviting comments on the anticipated acquisition by McCormick & Company of the food business of Unilever Plc. The regulator announced on Tuesday that interested parties may submit their views on the impact of the deal until August 5. McCormick is merging with Unilever's food business in a Reverse Morris Trust deal that values the food arm at about $45 billion and the combined company at around $65 billion. Under the terms, McCormick will pay $15.7 billion in cash and about $29.1 billion in shares, leaving Unilever and its shareholders with roughly 65% of the new entity and McCormick shareholders with about 35%. The merger brings together brands like Hellmann’s and Knorr with McCormick's spices and condiments to create a leading global player in sauces, seasonings, and other grocery staples.
McCormick & Company IncorporatedMcCormick is acquiring Unilever's food business in a Reverse Morris Trust deal; the impact is mixed due to large cash and share issuance, and regulatory scrutiny.
Unilever PLCUnilever is selling its food business for $15.7B cash and 65% stake in the combined entity, unlocking value for shareholders.
Unilever PLC