Unilever Picks Netherlands Over U.K. for Single Headquarters
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Unilever is consolidating its headquarters in the Netherlands, abandoning a separate London base in a blow to Prime Minister Theresa May’s effort to maintain investment in the U.K. after it leaves the European Union.
The maker of quintessentially British brands like Marmite spread and Lipton tea is streamlining the dual nationality it has maintained for nearly a century. Unilever said the move will ease mergers and acquisitions, which have become a priority for slow-growing consumer-goods giants as predators take aim.
“It gives us more strategic flexibility to undertake major M&A using the stock or demerge parts of our business in the future,” Chief Financial Officer Graeme Pitkethly said on a call, though the company said it doesn’t currently envision large-scale transactions.
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