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    ULVR   GB00B10RZP78

UNILEVER PLC

(ULVR)
  Report
Delayed London Stock Exchange  -  11:35 2022-09-28 am EDT
4065.00 GBX   -0.33%
08:41aUNILEVER PLC : Goldman Sachs reiterates its Neutral rating
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09/27UNILEVER PLC : Jefferies maintains a Buy rating
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Ben & Jerry's talks with Unilever over Israeli dispute break down

08/01/2022 | 05:25pm EDT
FILE PHOTO: A Ben & Jerry's ice-cream delivery truck is seen at their factory in Be'er Tuvia, Israel

NEW YORK (Reuters) - Ben & Jerry's and its parent Unilever Plc said talks had broken down to resolve their dispute over the sale of the ice cream maker's Israeli business, which would allow its products in the occupied West Bank.

In a letter on Monday to U.S. District Judge Andrew Carter in Manhattan, a lawyer for Ben & Jerry's said two weeks of mediation to settle out of court proved unsuccessful.

He asked Carter to restore Ben & Jerry's request for a preliminary injunction to block Unilever from selling the Israeli ice cream business to local licensee Avi Zinger.

Unilever has said the sale closed on June 29 and cannot be undone. A lawyer for Unilever said in a separate letter to Carter that the company is prepared for a hearing on the proposed injunction.

Reuters reported last week that the talks had broken down. A Ben & Jerry's spokesman declined to comment. Unilever did not immediately respond to requests for comment.

Ben & Jerry's had sued Unilever, which has owned the Burlington, Vermont-based company since 2000, on July 5.

It claimed that by selling the Israeli business, Unilever reneged on its promise to let the maker of Half Baked, Cherry Garcia and Chunky Monkey protect its brand.

Ben & Jerry's had in July 2021 said it would end ice cream sales in Israeli-occupied Palestinian territories because it was "inconsistent" with its values.

Israel condemned the move, and some investors sold their Unilever stocks and bonds.

Most countries consider Israeli settlements in the occupiedWest Bank illegal.

Reuters reported last week that the mediation failed because Ben & Jerry's did not want to "cave" on its social mission.

Unilever has said Ben & Jerry's had the right to make its own decisions about that mission.

The battle tests how far Unilever will give its brands freedom to have social missions.

Unilever has more than 400 brands including Dove soap, Hellmann's mayonnaise, Knorr soup and Vaseline skin lotion.

(Reporting by Jessica DiNapoli in New York and Jonathan Stempel in New York; Editing by Cynthia Osterman)

By Jessica DiNapoli and Jonathan Stempel


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
CHERRY AG -2.43% 5.22 Delayed Quote.-78.51%
UNILEVER PLC -0.33% 4065 Delayed Quote.3.37%
All news about UNILEVER PLC
08:41aUNILEVER PLC : Goldman Sachs reiterates its Neutral rating
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09/27UNILEVER PLC : Jefferies maintains a Buy rating
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Analyst Recommendations on UNILEVER PLC
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Financials
Sales 2022 58 645 M 56 552 M 56 552 M
Net income 2022 5 324 M 5 134 M 5 134 M
Net Debt 2022 22 784 M 21 971 M 21 971 M
P/E ratio 2022 21,8x
Yield 2022 3,76%
Capitalization 115 B 111 B 111 B
EV / Sales 2022 2,35x
EV / Sales 2023 2,26x
Nbr of Employees 148 012
Free-Float 95,2%
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Technical analysis trends UNILEVER PLC
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 20
Last Close Price 45,33 €
Average target price 47,94 €
Spread / Average Target 5,74%
EPS Revisions
Managers and Directors
Alan Jope Chief Executive Officer & Executive Director
Graeme David Pitkethly Chief Financial Officer & Executive Director
Nils Smedegaard Andersen Chairman
Richard Slater Chief Research & Development Officer
Nitin Paranjpe Chief Operating, Transformation & People Officer
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