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00:02Unilever is in advanced talks to combine its food business with McCormick in a deal valued
00:06at about $60 billion, including debt, according to the Wall Street Journal. The companies could
00:11announce a cash and stock deal as soon as Tuesday when McCormick reports quarterly results,
00:15though plans may change. Unilever shareholders are expected to own about two-thirds of the new
00:19food business, which includes a cash component of about $16 billion. The transaction is expected
00:24to use a reverse Morris Trust structure, offering tax benefits. Unilever's board met Monday to
00:29review the deal. The move would leave Unilever focused on beauty, personal care, and home
00:33products. For all things money, visit Benzinga.com.
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