Reported that Unilever is in advanced talks to sell most of its food business to McCormick for $15.7bn, a deal that would create a food giant and end Unilever's era competing with Nestlé and PepsiCo in food. This is a major strategic shift for Unilever, allowing it to focus on beauty, personal care, and home products. For McCormick, it is a transformative acquisition. WATCH as the final deal announcement and terms will be critical for assessing value capture for both sets of shareholders. The market's initial muted reaction (Unilever up only slightly) suggests uncertainty. Deal talks fall apart, or the final valuation and integration plan disappoint investors.