Unilever, McCormick near deal to create $60 billion food business - Reuters

<a href="https://news.google.com/rss/articles/CBMisgFBVV95cUxPMTV4YXlPdHJ2c2VzQWlJZVlyY2FRbkNnc3VxZlo1R29qTDB6NEF2bHZvdlc1XzJkaUtDQlo5alEwUTZ5U2MwQlM3NURTdlctNk1PdDBLM0Y0OHlSbUZuTlRYWHpSdmRJa2FiVjlwdmhGSHM3MWNteG84Zk5OVV9ETEg0OFB1MzRlT1libnA3NlpVaE5ZMU1rMm9kWWxKc3NJX01WZElPTFRTaXBhSlZWbDhn?oc=5" target="_blank">Unilever, McCormick near deal to create $60 billion food business</a>&nbsp;&nbsp;<font color="#6f6f6f">Reuters</font>

Unilever is in advanced talks to combine its food business with spice-maker McCormick & Company, potentially creating a $60 billion entity. The deal includes debt and could be announced as early as Tuesday.

Unilever is in advanced talks to combine its food business with U.S. spice maker McCormick, in a deal that includes a cash component of around $16 billion, according to the Wall Street Journal.

McCormick’s proposed acquisition of Unilever's food business might be structured as a tax-free spinoff and merger, with Unilever shareholders owning the majority of the new company.

Barclays downgraded its price target on McCormick & Company shares to $58 from $67, citing potential costs from the ongoing Iran war and the company's possible acquisition of Unilever’s food division as key developments to monitor.

Unilever is 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 Unilever while giving its shareholders majority control of the merged entity.