US condiment maker McCormick has confirmed it will pursue a secondary share listing on the London Stock Exchange following its agreement to acquire Unilever’s food business in a £33.8 billion transaction.
The move is designed to enhance liquidity and broaden the shareholder base for the enlarged group, which will operate as a standalone entity after the separation from the Dutch-British consumer goods giant.
The decision to list in London comes at a time when the UK market has struggled to attract new corporate entrants.
Trading volumes for new listings have been subdued, and the prospect of a major multinational adding a London ticker is viewed as a significant vote of confidence in the exchange’s infrastructure.
The combined company will retain its primary listing in the US, with the London venue serving as a secondary market for European and global investors.
This development follows the earlier announcement that Unilever’s newly separated food division would not seek a listing on the Euronext Amsterdam exchange, despite the Netherlands retaining the company’s international headquarters.