Unilever-McCormick potential food unit deal includes $16 billion cash component, WSJ reports (updated)
30/03/2026 23:11
Adds details in paragraphs 2, 3, 5; shares in paragraph 4 March 30 (Reuters) - Unilever ULVR.L is in advanced talks to combine its food business with U.S. spice maker McCormick MKC.N, in a deal that includes a cash component of around $16 billion, the Wall Street Journal reported on Monday, citing people familiar with the matter. A cash-and-stock deal could be announced as soon as Tuesday, when McCormick is set to report its first-quarter results, according to the report. Unilever and McCormick did not immediately respond to Reuters' requests for comment. Shares of McCormick jumped about 4% in extended trading following the report. The proposed combination would offer the British group's shareholders a majority stake in the new entity and tax benefits, and would be arranged like a so-called reverse Morris trust (RMT), which saves on taxes, Reuters reported last week. (Reporting by Savyata Mishra in Bengaluru; Editing by Anil D'Silva) ((Savyata.Mishra@thomsonreuters.com;))