From Yahoo Finance · · 50s
UK watchdog probes Unilever-McCormick $44.8bn deal
UK competition regulator starts Phase 1 review of Unilever-McCormick merger after potential market impact concerns
In brief
UK competition regulator starts Phase 1 review of Unilever-McCormick merger after potential market impact concerns UK regulator launched Phase 1 investigation into Unilever-McCormick deal to assess competition risks before possible Phase 2 review Originally reported by Yahoo Finance.
UK regulator launches probe
UK competition regulator began Phase 1 review of Unilever-McCormick $44.8bn deal to assess competition impacts
“A decision has been taken to market the Colman's brand and assets to potential buyers in order to proactively seek to address potential competition concerns from the planned combination of Unilever Foods and McCormick”
Deal structure details
McCormick takes most Unilever food assets including Knorr soups and Hellmann's mayonnaise but excludes Lipton drinks and India/Nepal/Portugal operations
Colman's sale
Unilever sold Colman's mustard to address competition concerns before the merger
Regulator timeline
CMA has 11 November deadline to complete Phase 1 review and decide on Phase 2 investigation
Shareholder stakes
Unilever shareholders own 55.1% of combined company after deal closes, McCormick 35%, Unilever 9.9%
The takeaway
UK regulator launched Phase 1 investigation into Unilever-McCormick deal to assess competition risks before possible Phase 2 review
