The proposed $44.8 billion combination of McCormick with the majority of Unilever’s foods business, announced in March 2026 and targeted for mid-2027 close, cleared its key U.S. antitrust review when the FTC granted early termination of the Hart-Scott-Rodino waiting period on October 5. The transaction would create a flavor-focused entity with roughly $20 billion in combined revenue, expected annual cost synergies of $600 million within three years, and Unilever shareholders receiving a 65 percent stake plus $15.7 billion in cash. McCormick has outlined plans to repay $1.5–2 billion in debt post-closing while targeting 21 percent operating margins. The primary near-term catalyst is the U.K. Competition and Markets Authority’s Phase 1 decision, due November 11, which could trigger a deeper Phase 2 probe or require remedies such as the planned divestiture of Colman’s mustard. Additional regulatory reviews continue in markets including Colombia.