Unilever vies with Hormel to buy Reckitt food unit: Sunday Times

Unilever and Hormel are front-runners in a deal that is likely to top 2.2 billion pounds, said unidentified sources quoted by the newspaper.

Published: 16th July 2017 06:04 PM  |   Last Updated: 16th July 2017 06:04 PM   |  A+A-

By Reuters

LONDON: Anglo-Dutch conglomerate Unilever is vying with U.S. canned meat producer Hormel Foods Corp to buy the foods division of British consumer goods maker Reckitt Benckiser, the Sunday Times newspaper reported, citing sources.

Unilever and Hormel are front-runners in a deal that is likely to top 2.2 billion pounds ($2.9 billion), the unidentified sources told the Sunday Times.

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.

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