Barclays says Unilever's messy Foods exit will be worth the wait as HPC transformation takes shape

Barclays has defended Unilever PLC's (LSE:ULVR) decision to sell its Foods division to American spice giant McCormick, arguing that investor frustration with the deal's complexity is understandable but likely to fade over time. Both Unilever and McCormick shares have fallen around 8-9% since the deal was announced on 31 March, an unusually poor reception given that transactions of this kind rarely leave both parties worse off immediately.