Shares of Unilever climbed to their highest in more than eight years on speculation that the world’s second-largest maker of food and detergents may combine with Colgate-Palmolive Co.
A message left for Colgate spokeswoman Bina Thompson wasn’t immediately returned, while Rotterdam-based Unilever spokesman Tanno Massar declined to comment.Some analysts said Unilever would be the more likely acquirer. The Anglo-Dutch company has a market value of about ¤75 billion ($103.1 billion), about three times that of New York-based Colgate, which makes Softsoap and Irish Spring. Unilever’s personal-care products, such as Dove soap, account for about a quarter of its sales.
Unilever stock rose as much as 4.9 per cent in Amsterdam and was trading at ¤24.06 at 2.26 pm local time, set for its highest close since 1999. Its London-listed shares gained as much as 75 pence, or 4.6 per cent, to 1,722 pence. Shares of Colgate-Palmolive slipped 80 cents to $64.97 in Germany.
Read more in The Business Standard article.
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