European group Unilever confirms merger talks with American McCormick

The European food and hygiene group Unilever, which owns brands such as Knorr, Hellmann’s, Skip, and Dove, confirmed this Tuesday, the 31st, that it is in advanced talks with its American counterpart in sauces and spices, McCormick & Company, for a possible merger. “We are working to reach an agreement, possibly today, although it is not yet certain,” the multinational company, which has a presence in Portugal, stated in a press release. In the event of a successful transaction, Unilever plans to invest 13.67 billion euros in shares of the American counterpart, though the merger would exclude the food portfolio in India. The European giant's executives intend to hold 65% of the company resulting from the business combination. Competition authorities approve the acquisition of an ice cream industry company by Unilever.