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Unilever announces results of business review
April 6, 2017 / 6:05 AM / in 7 months

Unilever announces results of business review

LONDON, April 6 (Reuters) - Unilever said on Thursday it will exit its shrinking spreads business, increase its margin targets, raise its dividend and review its dual-headed legal structure, as it aims to prove it can deliver near-term growth on its own, following its swift rejection in February of a takeover proposal by Kraft Heinz.

The pledges are the result of a business review at the Anglo Dutch consumer goods maker undertaken following the unsolicited $143 billion bid by the U.S. rival, which Unilever bluntly rejected.

Unilever, one of Europe’s biggest blue-chip stocks, called the episode a “trigger moment” to assess its business, as the global packaged goods industry faces slowing growth and greater competition. (Reporting by Martinne Geller; Editing by Greg Mahlich)

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