UK’s Unilever said it has abandoned its plans to consolidate its operations to the Netherlands because the proposal has not received support from a significant group of shareholders.
Unilever said in a statement that and it considers it appropriate to withdraw.
Marijn Dekkers, Chairman, said: “Unilever has built a long track record of consistent and competitive performance. The Board continues to believe that simplifying our dual-headed structure would, over time, provide opportunities to further accelerate value creation and serve the best long-term interests of Unilever.
“The Board will now consider its next steps and will continue to engage with our shareholders. We will proceed with the plan to cancel the NV preference shares, further strengthening our corporate governance.”