UK competition watchdog starts consultation on Unilever-McCormick deal
The UK competition watchdog on Tuesday invited comments on McCormick & Co Inc's proposed acquisition of Unilever PLC's foods business, marking the first step in its review of the USD44.8 billion deal.
The Competition & Markets Authority said interested parties have until August 5 to submit views on any competition issues arising from the transaction.
The CMA stressed that it has not yet launched a formal investigation, describing the invitation as the first stage of its information-gathering process.
"The CMA is issuing this 'invitation to comment' to allow interested parties to submit to the CMA any initial views on the impact that the transaction could have on competition in the UK," the regulator said.
The proposed transaction, announced in March, will see Unilever separate its Foods business and combine it with Hunt Valley, Maryland-based McCormick in a deal valuing the business at USD44.8 billion.
Under the agreed terms, Unilever and its shareholders will receive shares representing 65% of the combined company, alongside USD15.7 billion in cash. Unilever will retain a 9.9% stake, which it intends to sell over time.
The companies said the combination would create a business with around USD20 billion in annual revenue, bringing together brands including Knorr, Hellmann's, French's and Frank's RedHot sauce.
The deal forms part of Unilever's strategy to become a pure-play home and personal care company, focusing on its Beauty, Wellbeing, Personal Care and Home Care divisions.
Completion of the transaction is expected by mid-2027, subject to shareholder and regulatory approvals, including competition clearances.
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