Wall Street Breakfast McCormick Unilever 44.8B deal
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Mar 31, 2026 A massive $44.8B food industry merger and how ownership and revenue could reshape the market. A $2B AI investment deepening ties between chipmakers. A major airline raising checked-bag fees to cope with fuel costs. Shifts in memory chip pricing and a big pharmaceutical takeover headline the trading landscape.
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McCormick and Unilever Create $20B Flavor Giant
- McCormick agreed to combine with Unilever Foods to form a global flavor leader targeting roughly $20 billion in 2025 revenue.
- Deal values Unilever Foods at about $44.8 billion or 13.8× 2025 EBITDA, with Unilever getting $15.7 billion cash plus a 65% share of the combined company.
Post Deal Ownership Split And Brand Mix
- Ownership split upon closing will leave Unilever shareholders with about 55.1% and McCormick shareholders about 35% of the combined company.
- Unilever itself will still hold roughly 9.9% directly, and Unilever Foods brands like Knorr and Hellman's make up ~70% of sales.
NVIDIA Invests $2B To Tie Marvell Into AI Ecosystem
- NVIDIA is investing $2 billion in Marvell and forming a strategic partnership to link Marvell to NVIDIA's AI factory and AI-RAN via NVLink Fusion.
- The move strengthens Marvell's position in NVIDIA's AI ecosystem and signals deeper chipmaker collaboration on AI infrastructure.