Unilever Drops Plan to Delist in London Amid Shareholder Revolt -- Update
05 Octubre 2018 - 2:02AM
Noticias Dow Jones
By Adam Clark
Unilever PLC on Friday withdrew its proposal to end its dual
structure, bowing to investor opposition over a controversial plan
to that would have ended its status as a London blue chip.
The Anglo-Dutch maker of Dove soap and Magnum ice creams said it
continues to believe that simplifying its structure would serve its
best long-term interests.
The plan was devised after Unilever fended off a $143 billion
takeover proposal from Kraft Heinz Co. early last year. But it has
proved divisive among investors, many of whom would have had to
sell shares because of the planned delisting in London in favor of
a single listing in Amsterdam. Unilever was at risk of losing in a
shareholder vote over the proposal.
Unilever said it will consider its next steps and continue to
engage with shareholders. The company said it will also proceed
with its plan to cancel its Dutch preference shares.
(END) Dow Jones Newswires
October 05, 2018 02:47 ET (06:47 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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