Unilever Details Plan to Consolidate Shares Under Dutch Listing
01 Octubre 2018 - 5:55AM
Noticias Dow Jones
By Adam Clark
Unilever PLC (ULVR.LN) on Monday laid out further details of its
plan to consolidate its dual structure and base itself solely in
the Netherlands.
The consumer-goods company said it will cancel the Dutch
preference shares it acquired earlier this year, and shut down its
depository receipt structure.
Unilever also said that in reference to a proposed 250-day
"time-out period" which companies could use to delay shareholder
calls for strategy changes, it would not invoke the measure now or
in the future.
The Dutch government has proposed the measure and said it could
be used in the face of hostile takeover bids. Unilever rejected a
$143 billion bid from Kraft Heinz Co. (KHC) in 2017.
Unilever said that under the new structure, a 3% stake will be
sufficient to call a shareholder meeting, and a 1% stake will be
enough to table a resolution at meetings.
Unilever's consolidation plan has been publicly opposed by some
U.K. shareholders, after the company said it was unlikely to be
able to maintain its listing on the FTSE 100 index.
Write to Adam Clark at adam.clark@dowjones.com;
@AdamDowJones
(END) Dow Jones Newswires
October 01, 2018 06:40 ET (10:40 GMT)
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