Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Unilever PLC    ULVR   GB00B10RZP78

UNILEVER PLC

(ULVR)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

Unilever's Dutch shareholders vote on unification, HQ move

share with twitter share with LinkedIn share with facebook
09/18/2020 | 07:50am EDT
FILE PHOTO: Unilever headquarters in Rotterdam

Shareholders of Unilever NV in the Netherlands are expected to back plans to unify the consumer goods giant under a single parent company based in London and end 90 years as an Anglo-Dutch hybrid.

The result of an online vote will be released on Monday during an extraordinary shareholders' meeting streamed online due to the coronavirus, with investors in British Unilever Plc due to vote on Oct. 12. If approved by both sides, Unilever hopes to unify on Nov. 22.

The maker of Dove soap, Surf detergent and Ben & Jerry's ice cream has argued that the dual national structure hampers its ability to conduct acquisitions and disposals quickly, such as the planned sale of its three-billion euro tea business.

"My guess is that [the vote] will pass and it will give Unilever a simpler organisational structure, making it easier for effective management actions to take place," said Steve Clayton, UK fund manager of the Hargreaves Lansdown Select Fund range, whose UK Income fund has a 6.2 percent weighting in Unilever.

Unilever began its push to restructure under previous management after a failed $143 billion takeover approach by Kraft Heinz in February 2017.

Tax and political considerations thwarted its first attempt to unify in Rotterdam in 2018, with concerns about a 15% Dutch dividend withholding tax and forced selling by some UK shareholders once Unilever was dropped from Britain's FTSE 100.

Now, Britain's departure from the European Union gives some extra urgency, as a delay beyond this year could mean that the marriage of the company's two arms could face additional scrutiny from EU and British regulators as a cross-border merger.

"We are definitely in favour of the reunification. The situation has been running on for far too long and has presented an unnecessary distraction," said Freddie Lait, chief investment officer of Latitude Investment management. "It makes complete sense ... and it should not be controversial."

Glass Lewis, an independent share advisory group, recommends voting for unification.

The British government has also cheered the plan. Dutch politicians are less enthusiastic.

In 2018, Prime Minister Mark Rutte tried unsuccessfully to scrap the 15% tax on dividends. The cut was intended to keep Unilever and Royal Dutch Shell in the Netherlands, but became seen as a gift to rich foreign investors.

Dutch politicians also do not want their country missing out on collecting some 300 million euros ($355 million) annual tax from Unilever, leading an opposition party to propose an "Exit Tax".

Unilever says that idea violates European law, but if enacted as proposed, it would cost the company 11 billion euros -- enough to derail unification once again.

"If it doesn't happen, the last hundred years or so suggests that Unilever will continue to thrive, all around the globe," said Hargreaves Lansdown's Clayton.

By Toby Sterling, Martinne Geller and Siddharth Cavale


Stocks mentioned in the article
ChangeLast1st jan.
CLASS III MILK FUTURES (DC) - CMG (ELECTRONIC)/C1 0.00% 21.63 End-of-day quote.11.96%
CLASS IV MILK?FUTURES (GDK) - CMG (ELECTRONIC)/C1 -1.10% 13.52 End-of-day quote.-19.48%
DRY WHEY?FUTURES (DY) - CMG (ELECTRONIC)/C1 0.73% 34.55 End-of-day quote.4.86%
HARGREAVES LANSDOWN PLC -2.58% 1377.5 Delayed Quote.-26.93%
NONFAT DRY MILK FUTURES (GNF) - CMG (ELECTRONIC)/C1 0.09% 106.65 End-of-day quote.-12.11%
ROYAL DUTCH SHELL PLC -3.07% 10.536 Delayed Quote.-58.46%
THE KRAFT HEINZ COMPANY -2.60% 30.555 Delayed Quote.-2.37%
UNILEVER N.V. -0.98% 50.6 Delayed Quote.-0.25%
UNILEVER PLC -1.02% 4646 Delayed Quote.7.90%
share with twitter share with LinkedIn share with facebook
All news about UNILEVER PLC
10/23TODAY'S LOGISTICS REPORT : Tracking a Vaccine; Lasting Postal Slowdown; Megaship..
DJ
10/23UNILEVER : Strong third-quarter performance shows resilience and agility
AQ
10/23UNILEVER NV : JP Morgan sticks Neutral
MD
10/23UNILEVER PLC : JP Morgan remains Neutral
MD
10/23UNILEVER NV : Gets a Sell rating from UBS
MD
10/23UNILEVER NV : Gets a Neutral rating from Berenberg
MD
10/23UNILEVER PLC : Berenberg reiterates its Neutral rating
MD
10/23UNILEVER PLC : Barclays reiterates its Buy rating
MD
10/22UNILEVER PLC : Goldman Sachs keeps its Buy rating
MD
10/22UNILEVER NV : Goldman Sachs maintains a Buy rating
MD
More news
Financials
Sales 2020 50 685 M 59 974 M 59 974 M
Net income 2020 5 935 M 7 023 M 7 023 M
Net Debt 2020 22 641 M 26 790 M 26 790 M
P/E ratio 2020 22,9x
Yield 2020 3,22%
Capitalization 134 B 159 B 159 B
EV / Sales 2020 3,10x
EV / Sales 2021 3,02x
Nbr of Employees 149 867
Free-Float 55,7%
Chart UNILEVER PLC
Duration : Period :
Unilever PLC Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends UNILEVER PLC
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 25
Average target price 54,00 €
Last Close Price 51,10 €
Spread / Highest target 23,3%
Spread / Average Target 5,67%
Spread / Lowest Target -21,7%
EPS Revisions
Managers
NameTitle
Alan Jope Chief Executive Officer & Executive Director
Nils Smedegaard Andersen Chairman
Nitin Paranjpe Chief Operating Officer
Graeme David Pitkethly Chief Financial Officer & Executive Director
Richard Slater Chief Research & Development Officer
Sector and Competitors
1st jan.Capitalization (M$)
UNILEVER PLC7.90%158 938
THE PROCTER & GAMBLE COMPANY14.00%353 046
UNILEVER N.V.-0.25%158 938
THE ESTÉE LAUDER COMPANIES INC.13.89%84 967
HINDUSTAN UNILEVER LIMITED11.48%68 239
COLGATE-PALMOLIVE COMPANY15.25%68 026