McCormick Criticized by Kramer and Warren Over $45 billion Unilever Food Business Merger
UL Unilever plc ADR
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- 1Jim Cramer and Senator Elizabeth Warren criticized McCormick (MKC)'s merger with Unilever (UL)'s food business for different reasons.
- 2The merger value is $44.8 billion, with Unilever receiving $15.7 billion in cash and shareholders owning 55.1% of the merged company.
- 3The U.S. Federal Trade Commission ended its waiting period early on October 5, and the UK Competition and Markets Authority will make an initial decision by November 11.
So what's the key point?
McCormick decided to merge with Unilever's food business, but Cramer believes the price is too high, while Warren is concerned about rising grocery prices.
Source Moneywise · View original ↗
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