Unilever vies with Hormel to buy Reckitt Benckiser’s food unit: report
Unilever and Hormel are front runners in a likely £2.2 billion deal to buy the foods division of Reckitt Benckiser
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London: Anglo-Dutch conglomerate Unilever is vying with US canned meat producer Hormel Foods Corp to buy the foods division of British consumer goods maker Reckitt Benckiser, the Sunday Times newspaper reported, citing people with the knowledge of the matter.
Unilever and Hormel are front-runners in a deal that is likely to top £2.2 billion ($2.9 billion), the unidentified people told the Sunday Times.
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Earlier this month Reckitt, which owns the French’s mustard brand, trimmed its sales forecasts, becoming one of the first companies to put a cost on a global cyber attack in June that disrupted its manufacturing and distribution. Reuters