Unilever PLC Stock Falls Again as Food Spin-Off Talk, Kraft Heinz Talks Rattle Investors
Unilever PLC shares slid further on Thursday following reports that the company considered spinning off its food division and had opened—then dropped—talks with Kraft Heinz about a deal for part of the business. Reuters noted the stock declined again, adding to Wednesday’s 3.5% drop. The timing isn't great. Chief Executive Fernando Fernandez has only been in the role a little more than a year and is still trying to steer Unilever’s ice-cream demerger—now trading as The Magnum Ice Cream Company after its December listing. Investors are worried a second major spin-off could distract management from delivering.