McCormick confirms discussions with Unilever regarding food business

McCormick (MKC), in response to the announcement issued by Unilever (UL) earlier, confirmed that it is engaged in discussions with Unilever regarding a potential strategic transaction involving Unilever’s food business. The company said, “While these discussions are ongoing, there can be no certainty or assurances as to whether an agreement for a transaction will be reached or as to the terms or timing of any such transaction. McCormick regularly evaluates its portfolio and strategic options in pursuit of maximizing shareholder value and consistent with its fiduciary duties and in consultation with its financial and legal advisors. The Company does not intend to make any additional comments regarding this matter unless and until it is determined that additional disclosure is appropriate or necessary.”