Unilever PLC Stock Faces Fresh Test as €1.5 Billion Buyback Starts During McCormick Break-Up
Unilever bought about 3.3 million shares between April 30 and May 1 as part of its €1.5 billion buyback, holding them in treasury, according to a May 6 filing. The move comes as Unilever prepares to spin off its food unit in a $44.8 billion merger with McCormick, leaving a company focused on beauty and home care. First-quarter underlying sales rose 3.8%, but turnover fell 3.3% to €12.6 billion due to currency effects.