WEATHER AUTHORITY : Flood Advisory View Alerts

Unilever kills plan to move HQ out of UK

Unilever has given up on a plan to move its headquarters out of the United Kingdom after some big investors ...

Posted: Oct 5, 2018 11:23 AM
Updated: Oct 5, 2018 11:23 AM

Unilever has given up on a plan to move its headquarters out of the United Kingdom after some big investors objected.

The global consumer goods company said Friday that the planned change "has not received support from a significant group of shareholders."

Companies

Continents and regions

Europe

Northern Europe

Unilever

United Kingdom

Banking, finance and investments

Business, economy and trade

Financial markets and investing

Securities trading

Stock markets

England

London

Unilever (UL), which owns brands including Dove, Lipton and Ben & Jerry's, had announced in March that it would use Rotterdam as its sole legal home as part of an effort to simplify its corporate structure.

That announcement — by one of the United Kingdom's largest companies — was seen as a setback for the country as it prepares to leave the European Union.

Unilever has operated for decades with dual headquarters in London and Rotterdam.

It had argued that consolidating in the Dutch city would simplify its structure and give it more flexibility to buy or sell brands. Shares would have been listed in New York, Amsterdam and London.

The move would have led stock market operators to designate Unilever a Dutch company and drop it from London's FTSE 100 index. Funds that invest in shares that make up the benchmark index were concerned they would have to dump their Unilever holdings as a result.

Unilever shares listed in London dropped 0.7% following Friday's announcement.

"We expect a mixed reaction today: some [UK] shareholders will view the withdrawal positively as the stock will maintain its inclusion in the FTSE 100 index, but others might be disappointed," noted analysts at UBS.

Unilever needed the support of 75% of voting UK shareholders at a meeting later this month to proceed with the structural overhaul.

Abandoning the plan is a blow for Unilever managers including CEO Paul Polman, who initiated the structural review last year after brushing off a takeover attempt from Kraft Heinz (KHC).

Unilever has over 400 brands in its portfolio and 161,000 employees. It says that 2.5 billion people use its products each day.

Mississippi Coronavirus Cases

Data is updated nightly.

Cases: 295295

Reported Deaths: 6724
CountyCasesDeaths
DeSoto19672230
Hinds18799386
Harrison16710278
Rankin12685264
Jackson12592226
Lee9687160
Madison9457199
Jones7962146
Forrest7208136
Lauderdale6833226
Lowndes6022137
Lamar588080
Lafayette5733113
Washington5218130
Bolivar4609123
Oktibbeha441393
Panola430394
Pearl River4167130
Warren4129114
Pontotoc408869
Marshall403192
Monroe3989126
Union395374
Neshoba3807168
Lincoln3541102
Hancock347374
Leflore3375118
Sunflower318386
Tate302474
Pike300195
Scott293870
Alcorn291861
Itawamba289975
Yazoo289262
Tippah278765
Copiah277857
Coahoma277568
Simpson274878
Prentiss269758
Wayne253841
Marion252678
Leake252471
Covington248879
Grenada247377
Adams234377
George231745
Newton229652
Winston221675
Jasper213445
Tishomingo212365
Attala206569
Chickasaw201151
Holmes182270
Clay179150
Stone172429
Tallahatchie170539
Clarke169371
Calhoun157828
Smith152731
Yalobusha144836
Greene127633
Walthall124140
Noxubee122829
Montgomery122438
Perry121634
Lawrence120321
Carroll118225
Amite111533
Webster110630
Jefferson Davis101731
Tunica99023
Claiborne98429
Benton93324
Humphreys92827
Kemper90223
Quitman77114
Franklin76119
Choctaw69516
Jefferson62527
Wilkinson62426
Sharkey48817
Issaquena1676
Unassigned00

Alabama Coronavirus Cases

Cases: 493769

Reported Deaths: 9931
CountyCasesDeaths
Jefferson710731374
Mobile36139727
Madison32425455
Tuscaloosa24184410
Montgomery22586500
Shelby21968215
Baldwin19758283
Lee14967153
Morgan13667251
Calhoun13300286
Etowah13184319
Marshall11262209
Houston10104261
Elmore9385185
Limestone9363134
Cullman8897181
St. Clair8827223
Lauderdale8607211
DeKalb8459175
Talladega7523163
Walker6524255
Jackson6495102
Autauga627091
Blount6102127
Colbert6004118
Coffee5249102
Dale4642107
Russell404930
Franklin399177
Covington3960106
Chilton3876100
Escambia377672
Tallapoosa3588142
Clarke343650
Chambers3413110
Dallas3403141
Pike293472
Lawrence283484
Marion281995
Winston246867
Bibb245060
Geneva239970
Marengo236455
Pickens224654
Barbour211651
Hale210568
Fayette200756
Butler196866
Henry182441
Cherokee177038
Monroe166139
Randolph163740
Washington156535
Crenshaw144854
Clay144454
Macon142043
Cleburne137839
Lamar132833
Lowndes131151
Wilcox121825
Bullock116936
Conecuh106724
Perry105627
Sumter98531
Coosa88923
Greene88232
Choctaw55123
Out of AL00
Unassigned00
Tupelo
Clear
42° wxIcon
Hi: 50° Lo: 40°
Feels Like: 39°
Columbus
Partly Cloudy
38° wxIcon
Hi: 50° Lo: 39°
Feels Like: 34°
Oxford
Clear
34° wxIcon
Hi: 48° Lo: 34°
Feels Like: 34°
Starkville
Partly Cloudy
36° wxIcon
Hi: 47° Lo: 37°
Feels Like: 36°
WTVA Radar
WTVA Temperatures
WTVA Severe Weather