London seeks assurances over $65bn Unilever-McCormick deal
By the AFREEQUE newsroom, based on Business Day (South Africa)
The UK competition regulator is asking Unilever and McCormick to address concerns over their proposed $65 billion food merger. The groups have until 18 November to offer remedies to avoid an in-depth investigation, according to Business Day.
The UK Competition and Markets Authority (CMA) is asking Unilever, the Anglo-Dutch consumer goods group, and McCormick, the US spice manufacturer, to address competition concerns before an in-depth investigation into their proposed $65 billion merger. The two groups can offer remedies before 18 November, according to the CMA.
The regulator believes the deal could reduce competition in the UK in dry ingredient mixes and dry sauces sold to retailers. It considers Nestlé’s Maggi products, Premier Foods’ Bisto and own-label brands to offer only limited competition in these markets. Unilever said it was working with the CMA on a solution, while McCormick also confirmed discussions with the regulator, reports Business Day.
