Anglo-Dutch conglomerate Unilever is vying with US canned meat producer Hormel Foods Corp to buy the foods division of British consumer goods maker Reckitt Benckiser, the Sunday Times newspaper reported, citing sources.
Unilever and Hormel are front-runners in a deal that is likely to top £2.2 billion ($2.9 billion), the unidentified sources told the Sunday Times.
Earlier this month Reckitt, which owns the French's mustard brand, trimmed its sales forecasts, becoming one of the first companies to put a cost on a global cyber attack in June that disrupted its manufacturing and distribution.