Unilever to end Anglo-Dutch era with British holding company

REUTERS: Unilever proposed collapsing its Anglo-Dutch legal structure into a single holding company based in Britain on Thursday, nearly two years after shareholders sank an earlier plan to move its headquarters to the Netherlands.

The new plan, which requires 50per cent shareholder approval versus 75per cent before, is the"best tactical option," Unilever's Danish Chairman Nils Andersen told reporters. "It makes sense for the company to have as flexible an operational structure as possible, and this appears to achieve it without any obvious downside," Steve Clayton, UK fund manager of the Hargreaves Lansdown Select Fund range, which own Unilever shares, said of the proposal.Shares in Unilever Plc were down 0.6per cent at 4349 pence, erasing earlier gains, while the Dutch shares were up 1.1per cent.

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