Jim Cramer and Elizabeth Warren criticize McCormick's $45B Unilever food merger - but for very different reasons
Article excerpt
CNBC's Jim Cramer and Sen. Elizabeth Warren have found themselves on the same side of a $45 billion food-industry megadeal, though their reasons for criticizing it couldn't be more different. Warren took to X this week to warn that McCormick's (NYSE: MKC) proposed merger with Unilever's (NYSE: UL) food business could bring some of America's best-known grocery brands under the same corporate roof, including Hellmann's mayonnaise, McCormick spices, Cholula hot sauce and Frank's RedHot. Jeff Bezos backs a platform that lets anyone invest in rental homes for as little as $100 - 6 ways to build wealth like a landlord without actually being one A single line on your car insurance policy could be inflating your premium by up to 30% - here's what to change Dave Ramsey warns nearly 50% of Americans are making 1 big Social Security mistake. Here's what it is and 3 simple steps to fix it ASAP "I have concerns that McCormick and Unilever's $45 billion merger could increase YOUR grocery prices," Warren wrote in a post on Oct. 13. Cramer, meanwhile, has a different objection. He thinks McCormick is "paying way too much" for Unilever's food business, putting him on the "same side" as Warren, as he jokingly acknowledged. The unlikely alliance shows how investors and lawmakers can look at the same deal through entirely different lenses: Warren sees a potential threat to grocery prices...
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Announced March 31, the agreement calls for Unilever to spin off most of its food business and combine it with McCormick, creating a company with roughly $20 billion in annual sales.
