By George Glover

Spice maker McCormick, which posted an earnings beat Tuesday, is in advanced talks to combine with Unilever's food business in a cash-and-stock deal that could be announced as soon as later today.

Unilever said in a statement responding to recent media speculation that it was in advanced discussions about a deal that would include a $15.7 billion cash component and McCormick equity.

"It is possible that an agreement could be concluded today, although there can be no certainty that a transaction will be agreed," Unilever said. McCormick didn't immediately respond to a request for comment from Barron's.

McCormick stock jumped 5.6% to $56.70 ahead of the U.S. opening bell. Unilever's American depositary receipts climbed 0.6% to $60.35. Futures tracking the S&P 500 were 0.7% higher after a report said that President Donald Trump told aides he was willing to end the war in Iran even if the U.S. and its allies fail to reopen the Strait of Hormuz.

McCormick on Tuesday reported first-quarter adjusted earnings of 66 cents a share, as net sales rose 17% from a year ago. Analysts were expecting an adjusted profit of 59 cents a share, according to a FactSet poll.

The company stood by its guidance for the current fiscal year, forecasting adjusted earnings of $3.05 to $3.13 a share, although it noted consumer and macro uncertainty due to global trade policies and the war in the Middle East.

Write to George Glover at george.glover@dowjones.com

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March 31, 2026 07:35 ET (11:35 GMT)

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