Unilever to Be Forced From U.K.'s FTSE-100
12 Septiembre 2018 - 12:19PM
Noticias Dow Jones
By Saabira Chaudhuri
LONDON -- Unilever PLC will be booted from the U.K.'s blue-chip
FTSE-100 index, a repercussion from its decision to consolidate its
dual structure and establish a single headquarters in the Dutch
city of Rotterdam.
The maker of Dove soap and Ben & Jerry's ice cream had asked
FTSE Russell, the compiler of the index, to allow it to remain a
component of the index. But the company has also long said it
wasn't likely to succeed in that effort.
FTSE Russell, in a statement Tuesday, said Unilever would indeed
fall out of the index on Dec. 24. It is unclear which company will
replace it.
Unilever, the result of a 1929 merger of a Dutch margarine maker
and a British soap producer, is one of the highest-profile members
of the index, alongside British flagship companies such as BP PLC
and Rolls Royce Holdings PLC.
The expulsion could force some investors -- including funds that
track the FTSE 100 -- to divest themselves of the company's shares.
Shares in Rotterdam-listed Unilever NV will remain a significant
component of the Euro Stoxx 50 index, Europe's popular blue-chip
index.
Unilever has previously said it was "extremely unlikely" it
would be allowed to keep a place in the FTSE-100 index. Unilever's
U.K.-listed shares were largely flat Wednesday in London.
Unilever said in March that it would unify its dual structure,
choosing Rotterdam as its headquarters over London. The decision
came after a monthslong review sparked by an unwelcomed, $143
billion takeover proposal from Kraft Heinz Co. early last year.
The deletion from the FTSE-100 isn't a sure bet. The
consolidation has been opposed by some British investors.
Shareholders will vote on whether to approve Unilever's move in
late October. The company needs to get approval from 50% of its
Dutch shareholders and 75% of its U.K. ones.
Unilever has said it is confident it will get the votes. If it
doesn't, the dual structure will remain in place, and Unilever will
stay in the British index.
(END) Dow Jones Newswires
September 12, 2018 13:04 ET (17:04 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
Bp (LSE:BP.)
Gráfica de Acción Histórica
De Feb 2024 a Mar 2024
Bp (LSE:BP.)
Gráfica de Acción Histórica
De Mar 2023 a Mar 2024