McCormick acquires Unilever food arm in $44.8 billion merger

(Bloomberg) — Unilever Plc (UL) agreed to combine its food business with spice maker McCormick & Co. (MKC)in a $44.8 billion deal that will create a global seasonings, sauces and condiments company. Under the agreement, McCormick will pay $15.7 billion in cash and the equivalent of $29.1 billion in shares for most of Unilever’s food business. That will leave Unilever and its shareholders with 65% of a combined entity that owns brands like French’s mustard and Hellmann’s mayonnaise. The deal is the bigge ...