Unilever’s $42 Billion Stock Wipeout Deepens on McCormick Deal

A transformative deal for Unilever Plc’s food division has upended the narrative for the shares, raising investor worries about a stock that has long been viewed as a defensive bellwether.

The shares suffered their biggest one-day drop on Tuesday since the global financial crisis, after Unilever agreed to combine the unit with spice maker McCormick & Co.