McCormick buying Unilever food business $45 billion deal

McCormick and Unilever announced March 31 that they have entered into an agreement to combine McCormick with Unilever's foods business, in a deal that implies an enterprise value of approximately $44.8 billion for the Unilever unit. Under the terms of the agreement, Unilever and its shareholders will receive stock equating to 65% of the fully diluted combined company's equity, valued at $29.1 billion based on McCormick's one-month volume-weighted average stock price. Unilever will also receive $15.7 billio ...