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Unilever competes with Hormel to buy £2.2 bn Reckitt Benckiser food unit

Reckitt trimmed sales forecasts, becoming one of the first firms to put a cost on June cyber attack

Andy Bruce | Reuters  |  London 

Anglo-Dutch conglomerate Unilever is vying with US canned meat producer Hormel Foods Corp to buy the foods division of British consumer goods maker Reckitt Benckiser, the Sunday Times newspaper reported, citing sources. Unilever and Hormel are front-runners in a deal that is likely to top £2.2 billion ($2.9 billion), the unidentified sources told the Sunday Times. Earlier this month Reckitt, which owns the French's mustard brand, trimmed its sales forecasts, becoming one of the first companies to put a cost on a global cyber attack in June that disrupted its ...

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First Published: Mon, July 17 2017. 02:37 IST