Consumer products giant Unilever is reportedly close to finalizing negotiations to merge its food operations with American spice manufacturer McCormick, according to a Wall Street Journal report published Monday.
Sources with knowledge of the discussions told the publication that the potential transaction would involve approximately $16 billion in cash payments. The talks are described as being in their final stages.
The proposed deal would bring together Unilever’s food division with McCormick, the well-known U.S.-based spice and seasoning company. Both companies have yet to publicly confirm the negotiations.
