As we follow the case of Unilever's move to our green and pleasant land, The U.K. High Court has approved The Unilever Group's plan to combine its U.K. and Dutch listed entities, Unilever PLC and Unilever NV, on November the 2nd.
Once effective, the dual parent holding company structure will be unified into a single business, with Unilever PLC as the resultant entity. Unilever NV shareholders will receive one new Unilever PLC share, or one new Unilever PLC American depositary share in exchange for their shares. The cross-border merger is expected to be effective by November the 29th, subject to the terms of the court order.
'The cross-border merger is expected to be effective by November the 29th, subject to the terms of the court order.'
The maker of Dove soap and Ben & Jerry's ice cream expects the admission and listing of the new Unilever PLC shares on the London Stock Exchange and the admission and listing of the new Unilever PLC ADSs on the NYSE to happen on November the 30th.Meanwhile, the unconditional dealing in the Unilever PLC shares on Euronext in Amsterdam and its crediting to the Euroclear Nederland accounts of Unilever NV shareholders are expected to begin on December the 2nd. Unilever said it will make a disclosure should the boards of the two entities decide not to proceed with the unification due to actual or potential changes in tax legislation in the Netherlands. The court decision comes days after Unilever said it will push ahead with the combination despite a potential ‚¬11 billion ˜exit tax' in the Netherlands.