(RTTNews) - Unilever (UL) is in talks to separate its food business and combine it with spice maker McCormick (MKC), according to a report from the Wall Street Journal citing people familiar with the matter.
The move would mark a major strategic shift for Unilever, continuing a broader trend of consumer conglomerates streamlining their operations. If completed, the deal would leave the U.K.-based company focused on beauty, personal-care products, and home goods.
The report said an all-stock transaction could be announced within weeks, though the talks could still fall apart. The exact structure of the potential deal has not yet been determined.
UL closed Thursday's regular trading at $61.51 down $0.84 or 1.35%.
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