Unilever Spins Off Food Business in McCormick Merger

Unilever will be spinning off its food business in a merger with McCormick, with a deal being reached Mar. 31. The deal is said to be worth $45 billion on the Unilever brands side, and $21 billion on the McCormick end, with the former’s shareholders holding 55% and the latter’s 35% — and Unilever itself holding a stake in the remainder, as well as a $15.7 billion payment (via CNN Business).