Marmite maker Unilever agrees $44.8bn deal to combine food arm with McCormick

TL;DR

Unilever-McCormick potential food unit deal includes $16 billion cash component, WSJ reports McCormick Acquires Unilever Food Arm in $44.8 Billion Merger Unilever said on Tuesday it was in advanced talks to combine its food business with spice maker McCormick in a potential deal that would deliver roughly $15.7 billion in cash to the consumer goods giant while giving its shareholders majority control of the merged entity. Analysts at Barclays valued Unilever's food business at between 28 billion euros ($32.10 billion) and 31 billion euros, including debt. "Work remains ongoing to agree and finalise a transaction and it is possible that an agreement could be concluded today, although there can be no certainty that a transaction will be agreed," Unilever said in a statement.