Unilever (ULVR.L) Sinks After $66 Billion Food Deal Hit by More Terry Smith Criticism
Unilever PLC dropped almost 2% in London on Thursday, giving up most of Tuesday’s bounce. The move came as ex-shareholder Terry Smith renewed criticism of its $66 billion food deal, keeping focus on management and governance instead of product lines or profit margins. Delayed data from AJ Bell put the shares at 4,566p, off 1.9%, with market cap just under £98 billion. Based on Tuesday’s £46.89 close, the drop has wiped out about £2.6 billion from Unilever’s equity value. This matters now because the latest drop isn’t about a new profit warning. Investors are reacting to Unilever’s plan for a new structure. The company aims to dig further into beauty, wellbeing, personal care and home care, while splitting off Foods