UK: UNILEVER SHAREHOLDERS MISLED OVER DEAL

Article Abstract:

Shareholders in the Anglo-Dutch consumer products company, Unilever, have been misled regarding the impact of its acquisition of the US mayonnaise and soup company, Bestfoods. It was originally stated that the purchase would be accretive to Unilever earnings in the first year but it has since been revealed that the deal will result in an estimated 40% dilution of per share earnings during the first year of operation. Unilever defended the statements, claiming the first related to a Bestfoods cash payment, while the second relate to amortisation, interest and goodwill following the deal.

Shortening & Cooking Oils, Fats and Oils Refining and Blending, Household Detergents & Cleansers, Soap and Other Detergent Manufacturing, Soap, Cleaners, and Toilet Goods, Mayonnaise, Edible fats and oils, not elsewhere classified, Edible fats and oils, Cleaning agents, Soap and cleaning agents industry, Cleaning agents industry, Bestfoods, BFO, Fats and oils industry, Oils and fats industry

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UK/NETHERLANDS: UNILEVER DEAL MAY REQUIRE DISPOSALS

Article Abstract:

In preparation for its US$ 20.3bn merger with Bestfoods of the US, the Anglo-Dutch consumer products group Unilever may be obliged to dispose of a number of high profile brands. The group, already in the process of cutting its product lines to 400 to improve sales, could be forced by the European Union to sell all or some of the Batchelors range, including products such as Bean Feast, SuperNoodles and Cup a Soup. The acquisition of Bestfoods' Knorr range would otherwise give a disproportionate share of the dried foods market. It is also thought that concerns may be expressed over the combination of Unilever's Oxo cubes and Bestfoods' Bovril and Marmite stock cubes; and Unilever's Amora Maille sauces, and Bestfoods' Hellmans mayonnaise.

Government regulation (cont), Pickles, Sauces, Salad Dressings, Condiments

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UK: UNILEVER TO DITCH BATCHELORS BRAND

Article Abstract:

The Anglo-Dutch consumer products group, Unilever, is to sell its Batchelors dried foods range as a condition of its takeover of Bestfoods of the US. The European Commission has given Unilever a year to dispose of the assets, which include Cup-a-Soup and Oxo cubes to meet antitrust concerns. Potential bidders include Nestle and Hicks, Muse, Tate & Furst although Doughty Hanson, the European buyout specialist has emerged as an early front-runner for the business.

United States, Food & Kindred Products, Food Manufacturing, FOOD AND KINDRED PRODUCTS, Laws, regulations and rules, European Union. European Commission, Best Foods Div.

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