Apr 18, 2018

Unilever faces mounting investor unrest over UK exit

Unilever has been forced to confront a mounting rebellion among some of its largest investors against the Dove soap maker's decision to abandon its 89-year-old Anglo-Dutch structure and base itself in the Netherlands. It needs the approval of 75 per cent of UK shareholders and 50 per cent of Dutch shareholders. One large shareholder said his company held discussions with Unilever officials about the affect of the company falling out of the FTSE 100 index, adding it could have a huge impact on his business. "There is a small group of shareholders whose holding may be directly affected by our proposal and we will continue to engage with them. We remain highly confident of achieving the required level of shareholder support." Moving to a single shareholder structure would make it easier for Unilever to issue stock, make large acquisitions and de-merge businesses.

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