The $44.8 billion McCormick-Unilever Foods combination, announced March 31, 2026, cleared its primary U.S. antitrust hurdle when the FTC granted early termination of the Hart-Scott-Rodino waiting period on October 5. Under the structure, Unilever shareholders would hold approximately 65% of the combined entity valued near $65 billion with roughly $20 billion in annual revenue, while McCormick targets a mid-2027 close. The U.K. Competition and Markets Authority’s Phase 1 decision, due November 11, now represents the next key milestone, following Unilever’s proposed divestiture of the Colman’s mustard brand to mitigate competition concerns. Recent criticism from investors and lawmakers highlights valuation and pricing risks, though the transaction has already advanced past initial U.S. regulatory review.